UK Interest Rate Rise On Hold Good For SME’s

The latest news from the Bank of England showing a rate rise in the UK to be unlikely until early 2017 is welcome news for UK SME businesses according to Max Wallace Managing Director of UK Business Directory MySheriff.co.uk.

 

A survey of SME business owners, conducted by the Free Business Advertising website, suggests Start-ups and Entrepreneurs are happy to hear that rates wont rise for at least another year, Max Wallace explains: “If access to lending is cheap and affordable this can only be good for SME’s as any reduction in overheads is welcome news.”

 

He added: “SME start-ups have been under a lot of pressure recently from price deflation, competition and a generally tough economic outlook with woes in the Eurozone and China particularly so this news allows more confidence in the sector”.