Small firms could be inspired to adopt facilities management cost reduction processes after report highlights difficulties accessing funds.
October 7th 15:02 Cost Management
A number of small businesses around the UK could be inspired to adopt facilities management cost reduction processes after a recent report highlighted the difficulty of accessing finance.
According to a study by insurance firm More Th>n, almost one in five small business owners has turned to alternative financial providers in order to stay afloat.
The research showed that ten per cent of firms have asked friends and family members to help them out.
A further seven per cent have taken to using credit cards for business operations, while another seven per cent have approached loan companies.
Mike Bowman, head of More Th>n Business said: "The continued pressure on costs means that cashflow is suffering and in a slow recovering economy, some small business owners may be unable to rely on financial support from banks.
"As a result they have to look elsewhere for the cash injection they need to survive."
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