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Recession born SMEs hit terrible teens and reach out for cash

Size of personal guarantees rises 32%

Personal Guarantees by small business owners increase in size

Budget must help small businesses old and new. Purbeck Insurance Services, the provider of personal guarantee insurance has revealed a trend in the owners of small businesses established in the height of the financial crash in 2007-2008 who are now having to put their personal assets on the line to secure finance for their business.

SMEs and recession

Financial honesty is the best policy for SME owners | Purbeck

8 out of 10 small business chiefs come clean when they put the home on the line

Family protecting with Personal Guarantee Insurance

Money worries can be the biggest cause of relationship woes but recent research by Purbeck Insurance Services, the provider of Personal Guarantee Insurance has found that most small business owners do the right thing and come clean to their partner when they take the big step of putting the family home on the line for their business.  8 out of 10 small business owners[i] have informed their partner about a personal guarantee they have signed for new business finance. 

Purbeck Personal Guarantee Insurance Financial And SME Ownership

Accountants on the frontline

Adding Personal Guarantee Insurance to the mix of small business services

Accountants are on the front line when it comes to understanding the financial pressures facing the UK’s small businesses.  Late payment, managing cashflow, the Brexit deadlock are all making business harder for the directors and owners of SMEs and it’s often access to finance that determines a business’s fate, particularly in the early years.  

Accountancy

Contact Us for more information

For more information or to speak to one of our underwriters contact us today.