Titan Business Insurance is worried that SMEs are still being starved of cash in a system which remains fearful of lending money.
What’s more, says Titan Business Insurance, the ‘locked down’ business environment is beginning to damage growth as businesses cannot afford to gear up to cope with the inevitable pent-up demand after so many years of delaying buying decisions.
Titan points to the US which is now showing genuine signs of recovery, not least because businesses have delayed buying new equipment for so long, that they must start replacing soon. It’s the same situation with private motorists who can no longer delay buying new cars, a fact which is creating life in the US motor industry.
The same pent up demand is happening in the UK says Titan, but if firms cannot raise the necessary finance, then any growth could be stillborn.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“The UK economy is poised at a very difficult stage and if we don’t make money available for businesses to fund the opportunity to get out there and sell their goods, then we run the risk of falling way back into a recession. It’s now that the careful stewardship of the economy is more vital than ever. We have to get more cash into the system just when it is needed the most.”
Titan Business Insurance is one of the leaders in the sector and has clients who operate throughout the UK. It combines high levels of customer service with competitive pricing across all its policies.