With over 5.6 million SMEs in the UK, these small businesses make up 60% of all private sector employment and a turnover in the region of £2 trillion. These small businesses provide the back bone to the UK economy and if these SMEs begin to struggle with cash flow and productivity, the effect could be huge. With central Government not prioritising their well-being and growth, these micro to small businesses need nurturing on a wider scale.
Those small businesses, who are based outside of London, are finding it increasing difficult to get the support that is available through government channels, and with 40% of SMEs saying that they aren’t receiving enough government cash to cover liabilities for the next month, this is where we believe Mercia can help.
We are partnered with the British Business Bank and the region’s LEPs, and as flexible finance provider, based in the regions to supply debt finance, loans and the type of support that will allow small businesses reach their full potential.