According to new research conducted by Time Finance, more than 70% of financial intermediaries believe their clients will need some form of funding support over the next 6 months to deal with and overcome the economic challenges that 2022 continues to throw at them. The findings come as many of their SME clients face supply chain issues, interest rate hikes, soaring inflation, fuel costs, and tax increases.
When asked what funding solution intermediaries believed would lead recovery in 2022, 88% ranked Commercial Loans at the top of that list. This was followed closely by Asset Finance to support investment in essential pieces of business equipment, which was highlighted as a key funding option by 82% of intermediaries. Other options included relying on existing cashflow (76%), overdraft facilities (64%) and Invoice Finance (59%).
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans.
