According to the April edition of the Bank of England’s ‘Trends in Lending’ report, “overall, the rate of growth in some measures of the stock of lending to UK businesses picked up in the three months to February 2015”. Whilst the annual rate of lending growth to SMEs was negative during this period, it was less so than in previous quarters.
In light of these on-going challenges, it remains vital for SMEs to manage cashflows efficiently to protect against unnecessary shortages. The best way to achieve this is to maintain accurate cashflow projections, which will highlight any potential cash ‘squeezes’ before they occur, allowing for planning to take place to ensure appropriate funding is in place.
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