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Finance

One out of three firms tries to avoid borrowing, says new survey Magazine

More than only a third of companies surveyed by?Hitachi Capital Invoice Finance?lower borrowing money without exception, and will wish to invest using personal savings than borrow from another source.
The key reason for avoiding borrowing, for half respondents, was that companies elect to owe only possible, working with a further 10 % admitting that borrowing money has led this provider into further debt up to now.
Of 502 companies surveyed, just 15% said they completely trusted traditional lenders, additionally, the most crucial causes of not trusting them is often because of bank’s reputation, and even previous plus experiences, as well as security reasons.
Andy Dodd, MD at Hitachi Capital Invoice Finance said: ‘It’s interesting to discover businesses remaining cautious regarding business funding, potentially restricting their chance to develop.
‘More than 20 percent also noted that maintaining their cashflow is usually a top concern for your children for this year ahead, and indicates this is something they may be currently can not manage. It’s important for businesses of any sort to be familiar with the funding possibilities open straight away to them as what there’re able to apply for, because there are a volume of available alternatives to help prioritise overdue payments and look after financial resource, particularly outside traditional lenders.”

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