A quarter (25%) expected asset finance demand from SMEs to stabilise, while 8% believed lending activity would decline.
Some 28% of brokers were unsure of what 2018 had in store and selected the “don’t know” option.
When asked which industry sectors were likely to drive demand for asset finance in 2018, brokers chose the construction industry as the most likely sector, followed by transport and waste management.
Martin Nixon, head of asset finance at United Trust Bank (pictured above), said: “There’s no doubt that awareness of asset finance is growing among UK SMEs.
- Brokers more positive about economic outlook than their customers
- 63% of brokers expect London house prices to fall
- 25% of brokers report ‘excellent’ business performance
“Lenders, brokers and industry bodies – such as the FLA and the NACFB – are working hard to spread the word about the versatility and flexibility of asset finance and how quickly and easily transactions can be completed.
“Dealing with a professional asset finance specialist is a far cry from what’s involved in trying to raise a business loan from a high street bank or applying to increase your company overdraft.
“Brokers have known this for years, but the message is now getting through to business owners across the country, and this is good news for everyone.
“The government’s push to tackle the housing shortage should mean that construction and housebuilding companies are kept busy for the foreseeable future.
“As a result, we also expect significant activity in the funding and refinancing of new and used construction plant and machinery.”
Source: Bridging and Commercial