Will lack of funding encourage firms to adopt facilities management cost reduction processes?
September 10th 13:42 Cost Management
A number of businesses in the UK could be tempted to adopt facilities management cost reduction processes due to difficulties accessing finance.
Chris Baguley, managing director of Bridging Finance Limited, has claimed that a lack of funding is proving a barrier to growth for many firms.
The expert said that even enterprises with healthy balances are having difficulties accessing finance.
"Even for those businesses with a positive cash flow, the lack of funding from the mainstream lenders can be a barrier to growth," he commented.
"A short term injection of cash can help them to invest in the future of their organisation."
It comes shortly after the British Bankers' Association announced the launch of a new taskforce, which is set to examine why banks are failing to lend money to the UK's small businesses.
Representatives from several banks as well as members of the Treasury, the Department of Business, Innovation and Skills and the Bank of England make up the panel of experts.
Mr Baguley added: "Despite the apparent improvements that have taken place over recent months, many businesses are still finding their resources stretched as they experience continued difficulties in securing the backing of traditional lenders."
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