Aldermore on the EEF report concerning manufacturers’ attitudes to external finance
Carl D’Ammassa, group managing director of business finance at Aldermore, said:
“It’s disappointing to hear that manufacturers are reluctant to turn to external finance when funding growth despite the majority of them being confident that they could secure the funds needed were they to apply for them. By shunning the banks in favour of drawing on their own savings, there is a danger that manufacturers will invest less in their businesses than they might otherwise have done, resulting in lower overall levels of investment within the industry.
“Manufacturers need to remember that not all banks are the same and the market for business finance is much more competitive than it used to be as a result of large numbers of recent new entrants. There are now a greater range of products for businesses to choose from, with many lenders offering more flexible funding options than we’ve seen in the past.”
