Access to growth finance a key concern for UK businesses, ECI survey shows

The study shows just how much relevance trade relations with continental Europe have for British SMEs, with 43% of respondents considering the continental markets as most relevant to their activity. Unsurprisingly, business sentiment continues to be dragged down by the ongoing eurozone crisis. ECI's report also finds that companies are increasingly considering emerging markets to catalyse growth, presumably in direct response to the eurozone issues.

On top of the tough economic conditions, the scarcity of financial support also stands out as a major concern in the study. More than half of the surveyed businesses (64%) highlight the difficulty in raising growth finance as a key concern for their company's future.

Interestingly, 41% of respondents point at the increased due diligence requirements imposed by banks and other investors in response to the changes in the financial services industry as a main obstacle. More than a third (39%) consider the lack of capital supply to be the major issue. 

But despite current challenges, 61% of surveyed businesses are expecting to hit double-digit growth figures within the next 12 months, suggesting an expected upswing in either financing options or economic growth, domestically or abroad.

The ECI 2012 Growth Survey polled 315 small and medium-sized companies in the United Kingdom, surveyed between June and August 2012. 

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