EO London Surveys UK Small Businesses and Entrepreneurs

In partnership with Investec Bank, EO London surveyed small businesses and entrepreneurs in the United Kingdom.

One in four entrepreneurs seeking finance plan to use credit cards in 2010, as access to traditional funding remains difficult.

Seventy-five percent of small business owners and entrepreneurs said they were looking to secure funds in 2010, but 59 percent expect this to be difficult to accomplish.

“When considering providing funds to entrepreneurs, there needs to be a strong focus on risk management but also a determination to understand their business and be flexible enough to come up with a tailored solution to meet their needs. This is the main challenge for the financial services community and one of the main obstacles to banks not lending more to businesses," said Ed Cottrell of Investec.

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