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Smaller business appetite for external finance rises in Yorkshire and the Humber

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The British Business Bank's Small Business Finance Markets 2024/25 report, published today, finds that usage of external finance by smaller businesses in Yorkshire and the Humber rose by three percentage points in the first half of 2024,
The article from MSN discusses a notable increase in smaller businesses in Yorkshire and the Humber seeking external finance, as reported by the British Business Bank's Small Business Finance Markets report. This trend reflects a growing confidence among local entrepreneurs to invest in their businesses, despite economic challenges. The demand for finance is driven by needs for working capital, business expansion, and equipment purchases. The report highlights that while the overall UK market for small business finance has seen a decline, Yorkshire and the Humber are bucking this trend, with a particular rise in the use of asset finance and invoice finance. This shift indicates a strategic move by businesses to leverage external funding to navigate through economic uncertainties and capitalize on growth opportunities.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/money/economy/smaller-business-appetite-for-external-finance-rises-in-yorkshire-and-the-humber/ar-AA1AeWyX ]