The SME (small and medium-sized enterprise) sector is arguably the most important area for the business community. With an estimated turnover of £1.6 trillion it accounts for 47% of private sector turnover.* Any business with a turnover of less than £25 million and fewer than 250 employees fits into the SME category and it is estimated the total number of SME companies is in excess of 6 million.
Such an important sector demands solutions that can be tailored for any business and this is where SME finance is incredibly important. Any SME business can apply for dedicated finance to raise capital through funding such as loans, asset finance and invoice finance. Each business will have its own need for raising finance, it could be to have a healthy cash flow, to invest in new infrastructure or for bringing in new staff.
Another area of SME finance is government funding, in the form of a business loan. The Recovery Loan Scheme (RLS) is the latest government initiative that has been created to support the business community with funding of up to £10 million which can be used for any legitimate business purpose.
Here at NGI Finance we can help any business to secure funding. Currently many businesses are looking at refinance options and there are some excellent SME finance deals available. For more information, please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.
* source – https://en.wikipedia.org/wiki/Small_and_medium-sized_enterprises#United_Kingdom