More than half of north-east entrepreneurs fear the tough conditions could put their business at risk. Many say their banks have halted both short- and long-term lending, while 90% of those who are struggling said they were experiencing cash-flow problems.
The survey findings are based on responses from members of the region’s Entrepreneurs Forum, who are among the most dynamic and ambitious companies. The results are a stark illustration of the problems confronting small and medium-sized businesses. Thirty-eight per cent of respondents were considering restructuring their entire company and more than half said they were contemplating changes to their business model.