The 2020 Arval Mobility Observatory Barometer indicates that Small-medium sized enterprises (SMEs) in the UK are increasingly turning to leasing as a means of funding company cars and vans. and they are also turning to leasing companies for advice in what appears to be increasing numbers.
Half year results show lending volumes for asset finance increased £47 million to 31 March 2019; a rise of 29% to £211 million compared to the same period last year.
Business Barometer findings come at a time when concerns have risen over the mental health of small business owners across the UK, with reports of anxiety and depression rising at the end of last year.
Small business lending accounts for only 2% of banks’ balance sheets and since 2015, lending to large firms has increased by 43%, while lending to SMEs has decreased by 3%.