Initial results from a nationwide survey conducted by University of Edinburgh Business School show that 68% of the UK’s most dynamic entrepreneurs have cashflow concerns, up from 25% before the COVID-19 crisis.
The survey analysed responses from 565 fast growing entrepreneurial businesses. These firms represent 6% of all UK businesses but play an outsized role in the UK’s economic growth, providing 50% of all new jobs and a high proportion of the country’s export and productivity growth.
Additional findings show that almost half of businesses surveyed have halted all strategic investment, 59% are seeing a significant fall in business turnover and 51% are experiencing supply chain issues. One third of companies surveyed felt the government’s Coronavirus Job Retention scheme is unlikely to benefit them and one in five think all of the relief measures do not go far enough.
1pm plc (LON:OPM), established in 2006 is an independent provider of finance facilities to the SME sector. The 1pm plc group offer a full range of business finance solutions to the UK market from asset finance, hire purchase, commercial loans through to invoice finance and factoring. Gener8 Finance Limited is a wholly-owned subsidiary of 1pm.