Firms in Manchester that are seeking funding for growth are being advised to seek specialist advice as private equity deals in the region over the first half of the year dropped by 22% against the same period last year.
The data from CMBOR, the Centre for Private Equity and MBO Research, also showed that deal volume decreased by 30% when compared to the second half of 2022.
Fresh Thinking Advisory has issued the advice to help growing firms access the funding they need. It assists firms in preparing for funding by developing a growth plan and value proposition.
Commenting on the sector, Oliver Reece, managing director of Fresh Thinking Advisory, said: “As the number of deals completed is falling, firms looking to grow have fewer options available to them. So, finding the right advice is more important than ever. It’s important that entrepreneurs receive independent advice on the best funding options available to them. Our team of experts can help entrepreneurs navigate the best options.”
High street lending is also under pressure. While bank lending to businesses increased during the pandemic as companies took advantage of state-subsidised financing programmes (growth in 2020 sat at 8%), and it climbed in 2022 (3.7%), this year it is predicted to decline by over 4% (-£18.8 billion)*.
As businesses, both large corporations and SMEs, experience pressures from greater loan payment costs, decreased profitability, and ongoing disruptions to the world’s supply chains, having the correct funding structure in place is more important than ever.
Fresh Thinking Advisory assists businesses looking for a wide range of secured and unsecured finance options. The company offers a whole market debt advice service.
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*https://www.ey.com/en_uk/news/2023/02/uk-business-lending-to-contract-sharply-this-year#:~:text=While%20bank%20lending%20to%20businesses,%25%20(%2D%C2%A318.8bn).
