Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


New research shows that SMEs are focused on building resilience as a priority 

Businesses in the financial services (FS) sector are preparing most for the future, as research shows that FS SMEs have invested the most in their resilience.

The stats from research conducted by SME funding partner Ultimate Finance found that almost three quarters (71%) of financial SMEs have invested in resilience in some form over the last 12 months – compared with an industry average of 58% – while another 20.4% are planning on doing so in the next year.

With recently released statistics outlining that the number of company insolvencies has reached the highest level since 2014, increasing in 2018 to 16,090 it’s time for businesses to take action and ensure they are resilient to manage future challenges.

The research revealed:

Questioning 1,000 SMEs across a broad range of sectors, Ultimate Finance, alongside independent research company 3Gem, found that small business owners and managers in the financial services sector are taking steps to protect their company against challenges such as cashflow problems, employment issues, Brexit and contending against larger competitors.

Steve Noble, Chief Operating Officer, Ultimate Finance commented: “We often think of resilience as the ability to bounce back from disaster but that doesn’t cover the whole story. Resilience is also about being prepared and guarding against future challenges as well as having the courage to ask for advice and support when making plans to tackle whatever is potentially on the horizon.

“We know from our work with thousands of small businesses, that SMEs are starting to take measures to improve their resilience and our research substantiates it. As Brexit looms and the British economy remains on shaky ground, SMEs in the financial services sector are preparing for the worst while getting on with every day business. Essentially, they are demonstrating the very essence of what it means to be resilient, as they attempt to overcome challenges. Yet they are time poor and often resource light, which can limit their capability to build their resilience in a way that truly safeguards their future. Our aim is to highlight the challenge and provide resources that will be genuinely useful for SMEs up and down the country.”

Prior Ultimate Finance research highlighted how business owners didn’t know who to turn to when they needed support, and this same issue applies to resilience.

To support this, Ultimate Finance is launching a campaign and business hub providing tools, information and support to SMEs looking to build their resilience in key areas of their business, and also offer fast and easy ‘hacks’ to doing business better.

To find out more, visit the Business Resilience hub:

Continue Reading

Recent Posts