Three in 5 SMEs are confident they can secure a bank loan to fund investment plans, research by Clydesdale and Yorkshire Banks has found.
The survey of more than 850 SMEs found that buying equipment, premises and recruiting more staff are the top investment priorities.
The poll also reveals that many SMEs are increasingly optimistic about the future and now feel confident enough to begin investing in growth:
- 37% surveyed SMEs are more likely to make business investments than they were a year ago
- 45% believe growth opportunities have increased in the last year.
The survey also revealed that 35% have less debt due to the recession. While 64% want lenders to make it easier to borrow back the money they had repaid.
Paul Shephard, director for business and private banking at Clydesdale and Yorkshire Banks, said:
“At the moment, UK businesses are viewing the economy with increasing levels of confidence and preparing themselves for the opportunities which come about as a result. To take advantage of the improving conditions, many businesses are innovating, investing in new staff, expanding or purchasing their own premises and entering new markets.”