SMEs remain reluctant to borrow - EEF

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Financial conditions are improving for SMEs, but they remain reluctant to borrow money, says the manufacturers’ organisation, the EEF.

According to the EEF, the availability of new lines of borrowing is up and more small companies say the cost of new borrowings is falling, rather than rising, for the first time.

However, many companies are not using external finance and 52 per cent of manufacturing SMEs say they don’t need to borrow.