CBI claims UK businesses have access to funding
In a rather startling revelation, the Confederation of British Industry (CBI) has today issued a report which suggests that access to finance is becoming easier for UK corporate entities. A survey by the CBI, between 15 July and 24 July, confirmed that a net 18% of those questioned said credit was more available over the last three months than for some time. A similar survey in May showed a net 20% were finding access to finance more difficult than ever before. So is the situation in the UK starting to loosen up?
This announcement by the CBI is one step on the road to recovery in the UK economy but when looked at against the background of reduced liquidity in the money markets, tighter criteria and more expensive finance, the situation is maybe not as rosy as some would have you believe. While "one swallow does not make a summer", one positive report will not be enough to turn the opinions of many investors and analysts. As with the UK property market, recent reports into corporate finance have been mixed with some suggesting more funding is available and others focusing upon the tighter criteria now in place.
It will take more positive news over the next few months before any trends can be confirmed and when you also consider the number of UK businesses going under on a weekly basis, try telling these business owners that finance is more readily available!
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