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Confidence in banks is increasing among UK SMEs

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Research by Clydesdale and Yorkshire Banks has found that three in five UK SMEs believe they would be successful in achieving a bank loan to fund their investment plans.

More than 850 SMEs across the UK were surveyed and whereas some caution still remains, 37% said they are more likely to invest in growth opportunities than they were a year ago. This shows a distinct increase in confidence in them and the economy compared to a year ago. It was also revealed that 35% of SMEs had reduced their levels of debt that was incurred due to the recession.

Paul Shephard, Director for business and private banking at Clydesdale and Yorkshire Banks said: “At the moment, UK businesses are viewing the economy with increasing levels of confidence and preparing themselves for the opportunities which come about as a result. To take advantage of the improving conditions, many businesses are innovating, investing in new staff, expanding or purchasing their own premises and entering new markets.”

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