March 31st, 2017.

British businesses are feeling the pinch with nearly a fifth (17 per cent) missing pay day in order to survive.

Despite being responsible for nearly half of Britain’s economic activity, research commissioned by npower Business shows the shocking extent to which SMEs are struggling to keep their head above water to get to pay day.

In an increasingly competitive and complex economic landscape, SMEs businesses are found to be predominately self-financing with more than half (57 per cent) of businesses claiming they don’t rely on anyone or anything for financial support these days. Less than one in five (19 per cent) also rely heavily on personal savings to survive until the next payday.

As with the Brexit vote, which split the country, business are also split in their confidence for growth over the coming year. More than a third (36 per cent) of SMEs are more confident about their business growth prospects for 2017, compared with last year, mainly due to the economic outlook for Britain and the decision to leave the EU.

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