Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Over 90% of mid-sized businesses struggling to access funds amidst rising interest rates

by June 26, 2023
June 26, 2023
Over 90% of mid-sized businesses struggling to access funds amidst rising interest rates

Over 90 per cent of mid-sized UK businesses are facing challenges accessing funding and financing amidst the wave of interest hikes by the Bank of England, according to research from BDO.

Difficulties accessing cash are halting expansion plans for many businesses, stifling innovation and international collaboration for a large portion of the business economy.

Richard Austin, Partner at BDO, said: “Despite staying resilient through an incredible difficult time, tough challenges remain for mid-sized businesses, with access to capital becoming a critical issue.”

The news comes amidst rising inflation across the UK standing at 8.7 per cent in May, while the Bank of England increased their interest rates to 5 per cent last week, the highest since 2008.

Responding to the findings, Steven Mooney, CEO, FundMyPitch, commented: “Access to funding is vital for the budding entrepreneurs and startups that are set to play a crucial role in the UK economy through innovation, job creation and growth. Yet challenges remain for startups and SMEs in the face of interest rates and, in a rocky economic climate, raising capital and accessing cash is harder than ever. Businesses need to unlock new options for fundraising, not just from banks but through greater access to venture capital networks and other investors by showcasing their businesses to those positioned to propel the economy.”

The Bank of England and other leading financial authorities have warned that the fight against surging inflation is ongoing as they battle rising interest rates and borrowing costs.

The Bank for International Settlements (BIS) recently released a statement claiming that inflation fears may continue if financial authorities ease off prematurely. According to the report, policy rates may need to stay high in order for inflation to decline and remain low.

Read more:
Over 90% of mid-sized businesses struggling to access funds amidst rising interest rates

0
FacebookTwitterGoogle +Pinterest
previous post
The Fed Wants to Raise Rates as Russia Implodes. What Could Possibly Go Wrong?
next post
Jay Blades MBE appointed as Vice President of City & Guilds

You may also like

Reeves accuses Hunt of ‘deliberate lies’ over public...

July 30, 2024

UK economy downgraded as OECD warns of trade...

March 18, 2025

How to store or hide important business and...

January 16, 2024

Unleashing Potential: Maverick Trading Review

November 6, 2023

Tesco Announces ‘Thank You’ Bonus for Workers as...

April 11, 2024

Nico Rosberg Accelerates with €75m Venture Capital Fund...

April 14, 2024

Businesses need to upskill Gen Z and Alpha...

November 28, 2022

Forterro expands market footprint in France, and enters...

November 9, 2023

UK pioneers space refuelling with £2m investment in...

July 23, 2024

Carmakers recover ground in first three month of...

April 28, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved