MORE THAN a third of UK businesses fear they will face a cash squeeze in the next six months, while over half are concerned about the uncertain economic environment, according to new MarketInvoice research.
The peer-to-peer invoice finance platform found that 35 per cent of UK business leaders worried about their coffers would turn to invoice finance for additional working capital, followed by bank overdrafts (30 per cent), while only six per cent would use a personal credit card.
MarketInvoice surveyed managers, directors and c-level executives from 3,874 UK businesses about their outlook amid ongoing Brexit negotiations, after Article 50 was invoked in March.
58 per cent of UK business leaders said they think the top priority of Brexit talks should be ensuring the right trade agreement, with only 18 per cent prioritising access to EU workers.
Read more: MarketInvoice marks another record quarter
“Business leaders are clearly focussed on ensuring they are prepared to do business before worrying about people issues,” said MarketInvoice’s chief executive and co-founder Anil Stocker (pictured).
“Anecdotal feedback from this survey is that businesses in the UK are getting on with it but are clearly unsettled which doesn’t make for a healthy business environment.”
Earlier this month, MarketInvoice added euro and US dollar capabilities to its MarketInvoice Pro product, enabling businesses to fund their overseas expansion.