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SMEs say it is getting harder to access finance: survey
2 Feb, 2021 04:00 PM
4 minutes to read
Aimee Shaw is a business reporter focusing on retail, small businessaimee.shaw@nzherald.co.nz@AceeyShaw
A new survey suggests it is getting even harder for small and medium-sized businesses to access working capital in a post-Covid environment.
Research by YouGov, commissioned by small business lending specialist Prospa, has found that six in every 10 New Zealand SMEs (57 per cent) say accessing funding for their business from banks is becoming tougher.
For businesses that have operated less than five years, that figure was much higher.
The survey found that increasingly small business owners have had to use their personal or family finances for business purposes.