1 in 5 small businesses denied loans

These figures come from the latest research conducted by Sage UK, the leading accounting software and business service provider.
 These findings come from the January 2012 Sage Omnibus that consists of over 1000 SMEs in the UK. It also revealed that 7 out of 10 small firms are using their business plans to measure their company’s performance, but that 1 out of ten use the business plans to secure either funding or financing for their business accounts.
 The real cause for concern, however, is that it was also revealed that less that half of these firms, 42%, don’t have any kind of business plan at all.
 In order to help owner-managers more accurately build sustainable growth and secure further finance for their business accounts, Sage is providing its business planning tool Sage Planning for Business free with its flagship small business accounting software Sage Instant Accounts 2012. Sage Planning for Business is designed to help make finance from banks and investors more accessible to people with a small business, by allowing owner-managers to build upon their cash position, confidently ensure the sustainability of their business accounts, and easily create robust and up-to-date business plans.
Robin Moore, Product Manager for Sage’s Small Business Division and accounting software, commented: “Access to finance remains one of the greatest challenges facing small business owners today. However, there are a number of vital things owners can do to help themselves and their business accounts, such as ensuring they have a fully robust and up-to-date business plan in place. By incorporating Planning for Business into our accounting software Sage Instant Accounts 2012, we are aiming to help businesses more accurately plan for the future and achieve their aspirations for growth.”
To further support those with a small business, Sage Instant Accounts 2012, the easy-to-use accounting software, contains a host of improved features to save owners even more time on their business accounts. The latest package allows small businesses to:

keep track of their cash flow and profitability;

submit VAT returns directly online;

prepare year end accounts; and

produce customised Charts of Accounts using templates for different business structures (eg. sole trader, partnership, charity or limited company).

For further information, please visit: sage.co.uk/sage-instant-accounts.