Data from Hitachi Capital Invoice Finance has revealed a 58% increase in SMEs accessing cashflow finance from the start of the pandemic to the present time, as businesses look for continued support as various government support schemes such as the Government Job Retention Scheme come to an end.
Commenting on the stats, Andy Dodd, Managing Director at Hitachi Capital Invoice Finance, said, “We’ve seen more and more SMEs turning to invoice finance products over the last year to help improve their cash flow position as speculation around when the furlough scheme will end has rumbled on.
“This is a really positive move for many small businesses as it will help to safeguard jobs and provide many SMEs with a platform for growth as we continue to move through the pandemic.”
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