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Non-bank finance key to SME staff growth

News that SMEs are expected to significantly increase staff levels in the second quarter of 2014 is encouraging, and non-bank finance is vital to achieving this goal.

According to the latest Labour Market Outlook report from the Chartered Institute of Personnel and Development, small and medium-sized businesses are five times more likely to employ more people than larger firms in the next quarter, with employment intentions at the highest level for more than six years.

The news presents more evidence of the growing optimism among SMEs that has been increasingly reported in recent months. However, with new data from research agency Populus showing a £4.3 million SME funding gap and new figures from the Forum of Private Business showing that bank charges and the reduction or calling in of loans and overdrafts remain a major cause for concern, it is clear that non-bank finance services, such as invoice finance, peer-to-peer lending and crowdfunding, are key to turning this confidence into real growth.

The growth of non-bank finance has been underlined by the recent news of the success of crowdfunding in helping businesses generate start-up funding and capital to fund development, and with traditional lending services still falling short in terms of providing access to small business lending, the alternative finance sector clearly has a key role to play in driving the impetus behind SME growth in 2014.

To find out more about A&T Business Associates services, contact us on 01903 602211 or info@atbusinessassociates.co.uk.

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