Whether it’s the quiet confidence of knowing something others don’t or it’s just plain straight up hubris, contractors say they’re ready to tackle 2015.
Or at least, that’s what new figures from a research study conducted on behalf of business funding company Liberis says. According to the survey, which polled around 1,000 small business owners including umbrella company contractors and freelance workers, a rather healthy 68 per cent of them felt that 2015 was going to be an excellent year when it comes to the health of their businesses.
Right, so that’s not too unreasonable a figure is it? Just a bit over two out of every three, not quite seven out of every ten. A majority, but not an overwhelming one. That’s not so out of touch with reality, is it? Well here’s the part where things get a bit out of hand. Just over half of the survey’s respondents said they have expectations of expanding their company over the next 12 months, with 40 per cent of them figuring they’ll have to take out lending in some form.
Still, that’s not the real kicker. What Liberis found out next most definitely is: out of that 40 per cent planning to seek those external funds, a full 75 per cent of them said they were predicting it will be quite easily to secure credit.
Now this is where my head started to spin. Does no one remember what a bloody debacle it’s been over the past few years to get British banks to do anything for anyone besides themselves? Are we simply sweeping it under the rug that the Funding for Lending scheme, this brilliant Government initiative that was supposed to get High Street handing out low-interest rate business loans and mortgages once more absolutely crashed and burned due to the extreme greed and cowardice of the British banking community? Am I the only one with a memory lasting longer than a goldfish in this country?
I sincerely hope that this 75 per cent of firms have a backup plan, because I don’t see High Street being quite amenable to the plight of the small business owner. Maybe if they have some peer-to-peer lending situation worked out, that might be just fine, but going to some High Street branch for cash? Best of luck. Don’t come crying to me when you end up getting shown the door, though.