Research undertaken by British challenger bank Aldermore shows that although running out of cash, not being paid on time and not knowing when an upturn in orders will happen are amongst business owners’ greatest fears, running a company is what they enjoy doing the most.
The research, which was conducted amongst 300 SME firms throughout the country, confirms that factors such as running out of cash and not being paid on time prey on business owners’ minds more than issues such as the economy or the effects of competition.
However, when asked if they would prefer to be doing something else, business owners admitted that, other than being abroad on holiday, they are quite happy running their businesses. Running their own business ranked ahead of spending more time with their family, doing a sport or hobby – or even being a celebrity and winning the Lottery.
Damon Walford, managing director of Aldermore Invoice Finance, said: “Our research shows that business owners are a pretty realistic bunch of people. The dream of winning the Lottery or being a celebrity may have short-term appeal, but long-term satisfaction comes from running their businesses well.
“Business owners are kept awake at night not by thoughts of fame and fortune but by worries about cashflow and not being paid on time. Aldermore can’t offer bosses a winning Lottery ticket but we can help them get better control over their cashflow and manage the funding of their future business expansion.”
Aldermore is committed to helping small and medium sized businesses realise their growth ambitions, by providing a range of specialist financial products to help improve cashflow, with the purchase of essential equipment and with the acquisition of property.
Established in 2009, so far Aldermore has lent more than £1 billion to 12,000 SME customers throughout the UK and has increased its client base by 52% in the past year whilst many other banks have been scaling back their SME loan books. Aldermore can help SMEs requiring funding of up to £10 million with a range of competitive finance facilities which are supported by a reliable, high quality service.