SMALL businesses in Wokingham have a strong appetite for finance despite struggling throughout the coronavirus pandemic, according to the British Business Bank (BBB).
An Ipsos MORI survey commissioned by the BBB said that small- to medium-sized enterprises (SMEs) in the South East reported high demand as they begin to recover and grow.
It found more than two-fifths (41%) of SMEs have seen demand exceed supply, and nearly nine out of 10 (85%) firms expect to need additional debt finance in the next year-and-a-half.
It also revealed three quarters (75%) of SMEs do not know which finance options are available to them, and nearly six out of 10 (58%) are unsure how to access support.
Steve Conibear, UK network director for the South and East of England at the BBB, said the trend was encouraging.
“The increasing demand for finance is positive as businesses focus on recovery,” he said.
The survey included more than 500 responses, including accountants and lawyers.
