Smoke Is Rising: SMEs Face a High‑Interest Future
With interest rates hovering high for the foreseeable horizon, UK small‑and‑medium enterprises (SMEs) are scrambling to chart a new course. But a recent survey from Simply Asset Finance shows that help is still a long way off.
“Where Are We Going?” – The Gap in Support
- Two‑thirds want help: 64 % of UK SMEs say they need more resources and backing.
- The blind spot: 48 % admit they can’t figure out where to find that support.
There’s a stark lack of clarity on who to turn to, and the climate is shifting as the Autumn Statement looms.
Top‑Priority Policies: A Quick Takeaway
- Energy relief feels most urgent: 33 % want more help tackling soaring energy bills.
- Financing matters: 29 % want easier access to government grants or loans.
- Tax breaks: 26 % favour lower corporation tax or targeted relief.
Growth‑Specific Tactics that Spark Many Eyes
When it comes to boosting growth, SMEs look most to:
- Local investment: 34 % crave more financing for regional projects.
- Tax incentives keep the engine running:
- Regional project work – 29 %
- Regional hiring – 28 %
- Regional R&D – 27 %
Mike Randall’s Take: “Let’s Get the Wheels Turning”
CEO of Simply Asset Finance, Mike Randall, urges the government to pull the trigger:
- “SMEs across the country are ready to leap into growth, but they need real action to stay on track.”
- “It’s time for a bold move in the Autumn Statement – we can’t just hope for support, we must deliver it.”
- “A game‑changer? Make SME asset purchases easier to expense. A simple tweak that could transform businesses nationwide.”
- “Extending the Recovery Loan Scheme or a comparable replacement would give SMEs the certainty they need to invest confidently.”
- “Lenders themselves have to step up—share clarity on funding options, especially asset finance, which can fuel growth.”
- “Scale matters. Turning potential into reality only happens when industry and government are moving in the same direction.”
Let’s keep the conversation going
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