Business Growth: Seize opportunities as recovery begins
BUSINESS owners are increasingly exploring how to access the finance they need to grow as the economy begins its journey on the road to recovery.
However, a debate still rages between companies on the one hand who remain concerned about their ability to obtain bank lending, and the banking sector on the other which says it is open for business.
There is general agreement, though, that pre-credit crunch lending was too relaxed and was a contributory factor that led to the recession.
Therefore, a balance has to be struck to help kick-start the economy, according to experts at Barclays in Yorkshire.
Lee Collinson and Chris Forrest, co-heads of Barclays Corporate in Yorkshire, said the right borrowing decisions have to be made by businesses themselves.
“Businesses positioning themselves to seize opportunities are already exploring the need for additional funds, whether for capital investment, rebuilding inventories, or corporate activity such as M&A,” said Mr Collinson.
Mr Forrest advised businesses looking to access funding to contact lenders at the earliest opportunity, to be clear about the historic, current and predicted future performance of the business, and to provide banks with the best quality management information.
Mr Collinson added: “In Yorkshire today there are signs of recovery but we are all still operating in uncertain times, so businesses need to keep a tight focus on risk management, even when they are seeking to grow.”
The supplement also explores in detail issues areas including business confidence, exporting, how to achieve organic growth and different sources of funding.
