By Daniel Hunter
Business is bustling in the East and South East of England, with over 30% of Brits setting up online businesses there according to insight from EZBOB, a lender that provides access to short term finance for SME e-tailers.
EZBOB’s data demonstrates that aspiring entrepreneurs have taken matters into their own hands when it comes to making money — and in turn are fuelling the local economy.
Over the past 12 months the lender has seen a big increase in the number of businesses seeking much needed financing at a time when traditional lending channels are battening down the hatches. Interestingly, well over 14% of EZBOB’s customers are in the home furnishings and DIY industries.
“Britain is a ‘can-do’ nation and while the economic turmoil presents its own challenges, it’s clear that the country’s entrepreneurial nature still shines brightly as evidenced by our regional breakdown," Tomer Guriel, CEO of EZBOB commented.
“Quarter on quarter over the last 12 months, we have seen 75% increase in the number of businesses coming to us for short term finance. Overall we are funding up to 200 SME etailers a month and believe this figure will rise to up to 10,000 in 2014.
“In many cases, these businesses require simple fast access to finance to cover working capital in order to fund stock, recruitment and buying goods at the right price and time. We believe in fuelling the growth of SME e-tailers and inspiring a new generation of entrepreneurs and part of this process is revolutionising how access to finance is delivered in the UK.”
Join us on