Accessing funding for growth remains a major concern for ambitious Scottish SME businesses.
The latest Close Brothers Business Barometer, a poll of 700 small and medium sized firms across the UK, found that more than 40% of Scottish respondents were planning to seek funding to support growth plans over the course of the next 12 months.
However, half of that number feared their application for funding would ultimately be rejected by the banks.
Close Brothers Asset Finance chief executive Mike Randall said conditions for accessing credit had eased but issues remained.
“It is encouraging that many firms are planning for growth and seeking investment, but unless they can get access to funding it will be difficult to realise their ambitions,” Mr Randall said.
“To successfully build long-term development plans, companies will require greater access to working capital.
“It is important they understand and explore the alternatives available to bank lending, especially if they fear being turned down.
“Our research found that 11% of firms surveyed in Scotland have been declined access to bank funding over the last six months, so the fears businesses have are not unfounded.”
