Leasing is the ideal option for SMEs
In 2016 small and medium enterprises (SME's) accounted for 99.9% of all private sector businesses. The total employment in SME's was 15.7 million; 60% of all private sector employment in the UK. The combined annual turnover of SME's was £1.8 trillion which was 47% of all private sector turnover in the UK. From these statistics, it is clear to see that SME's make up most businesses in the UK but too many do not achieve the growth they need to survive.
In order from SME's to grow they often require finance support. Often the first port of call for any business is their bank. However, this is not always the best option. There are many asset types that are not considered by banks and covered by their finance options. Baker Leasing can also help you keep these lines of credit clear because we can approach various underwriters that can also be more flexible in the solutions that they can offer.
In a survey conducted by the European Bank for Reconstruction and Development, the reason for leasing with which most respondents agreed was that business had grown due to using leased equipment. The second most important reason was that it was quicker to obtain lease finance for SMEs.
The National Association of Commercial Finance Brokers' (NACFB) released their annual figures showing strong growth in invoice finance (up 22.8%), leasing & equipment finance (up 10.5%), development finance (up 49.8%) and bridging finance (up 74.6%).
Approach Baker Leasing to explore how we can help you avoid missing out on opportunities for your business to develop and grow.