9 in 10 mid-size corporations rolling again growth plans amid squeeze – survey
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ine in 10 mid-sized companies say they’re curbing their development plans as a result of they’re struggling to pay money for sufficient cash, a survey suggests.
A questionnaire despatched to 500 enterprise leaders each different month additionally discovered that round one in 4 (24%) are scaling again their enterprise or making employees redundant.
The survey, from accountancy agency BDO, discovered that 91% of the businesses questioned stated issue getting capital means development plans are being rethought.
“Despite staying resilient through an incredibly difficult time, tough challenges remain for mid-sized businesses, with access to capital becoming a critical issue,” stated BDO companion Richard Austin.
“As the engine of the UK economy, these companies are responsible for a large, vital proportion of its income and employment and their success will play a key role in the economic performance of the UK overall.
“Businesses believe more can be done to address their concerns, drive their growth and ensure the UK remains an attractive place to do business both today and in the future.”
The survey discovered that 22% of firms are unable to finance their growth plans and 20% struggled to spend money on new know-how or software program.
BDO stated the companies want Government assist with rising prices, by enhancing entry to capital.
“More support from policymakers to address high costs from inflation was the most common call among business leaders,” it stated.
“Almost 30% want the Government to do more to improve access to private sources of funding, including bank loans, regional banking and private equity investment.”
It stated that others (32%) had known as for higher Government grants and {that a} third thought extra needs to be carried out to assist companies with their vitality payments, comparable to enhancing their insulation.