New research from (1) from Fleximize, an alternative SME lender, amongst 129 business owners reveals that 50% of business owners are looking to grow their operations, and 42% of these entrepreneurs intend to do this through developing new products and services.
One in three (33%) plan to expand into new geographical markets, and 27% intend to buy new machinery and equipment. Some 23% have plans to hire more staff and 17% believe they will need larger premises
Max Chmyshuk, Founder and Managing Partner at Fleximize, said: “We believe businesses are generally feeling more positive about their trading than they were a year ago, and our research shows that half are looking to grow their operations. This means that demand for finance is increasing, but between April and June this year, we estimate that seven applications for credit from SMEs were rejected every hour by traditional lenders including banks.”
Fleximize’s findings also reveal that 35% believe their revenues are higher than they were 12 months ago, compared to 22% who think they are lower. Similarly, 29% say their profits are higher over this time period, as opposed to 23% who think they have declined.
Fleximize offers a choice of flexible loans and revenue-based financing to small and medium-sized businesses where repayments are tied to a client’s revenue flow – paying back more in good months and less when income drops. In the first half of this year, the amount it lent was 211% higher than in the same period in 2014.
(1) 129 business owners were interviewed by Consumer Intelligence in October 2015.
About Fleximize Ltd
Fleximize is a UK-based direct funding company and web platform launched in January 2014. Our mission is to help small and medium-sized British businesses grow by providing them with flexible financing solutions tailored to their unique needs and preferences. We are striving to provide our clients with experience and service traditionally available only to larger corporates. Our dedicated relationship managers will guide and support clients from the moment they apply - no bouncing from person to person or waiting for hours on hold.
Fleximize’s innovative Revenue Advance provides clients with flexible funding that they repay at the pace of their business. There are no fixed interest or capital repayments every month. Instead, they pay a percentage of their revenue until an agreed amount is repaid. Clients can use the money to purchase inventory, upgrade their premises or website, hire more staff, and otherwise improve and grow their businesses without worrying that a temporary slowdown in sales could put them in financial trouble.
Fleximize Limited trading as Fleximize is registered in England and Wales with Company Registration Number 07117447. Registered Office & Trading Address: Holbrook House, 51 John Street, Ipswich, Suffolk, IP3 0AH.