As obtaining credit from mainstream lenders continues to be an area of difficulty for many businesses, firms may want to consider what protection commercial insurance can offer them in terms of managing through the challenging financial climate.
Chris Baguley, managing director of Bridging Finance, points out that despite "apparent improvements" in the UK economy over recent months, a significant number of companies are still finding that their resources are stretched.
This, Mr Baguley asserts, is due to problems in securing backing from banks and other traditional sources of credit, something which could in turn affect their ability to pay for commercial insurance costs and other expenses.
"Even for those businesses with a positive cash flow, the lack of funding from the mainstream lenders can be a barrier to growth. A short-term injection of cash can help them to invest in the future of their organisation," he states.
Those looking for commercial insurance may want to bear such comments in mind after a study by the Federation of Small Businesses published in July shows that more than one-quarter of such firms are dissatisfied with the level of support offered by their high street bank over the past 12 months.
