2012 was a tough year for SMEs. The Eurozone crisis rumbled on, economies stagnated or contracted and the banks failed to lend the sums needed to help pull Europe out of the abyss.
Government initiatives such as the Funding For Lending (FLS) scheme in the UK have done little to benefit small businesses. The banks ignored the cries of all around them to do what they are supposed to do: lend. They are simply not incentivised to help SMEs and business should now make it their 2013 resolution to say ‘enough is enough’, and embrace the low cost and easy-to-access alternative financial services that are bursting on to the scene.
Peer to peer lending
Getting a bank loan is like juicing a stone and the process and customer service experience is often less than friendly. Luckily for businesses, a host of peer-to-peer financing companies have emerged and are proving to be a real and viable source of funding.
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