SME Trends Index – Invoice Finance users faring better
Hilton-Baird’s latest SME Trends Index has revealed that UK businesses took several steps to avoid and overcome the challenges posed by the difficult trading climate during the six months to November:
. 51% reviewed their supplier base;
. 46% monitored the creditworthiness of debtors;
. 29% reduced the number of employees;
. 9% closed or contracted business premises.
The recruitment industry was the best-performing sector, whilst invoice finance users fared much better than those using more generic funding solutions such as bank overdrafts and credit cards, or with no external funding in place whatsoever.