SMEs power forward with their expansion plans for the remainder of 2008, according to ABFA.

The latest survey by the Asset Based Finance Association (ABFA) has found that 74% of companies are refusing to put their growth ambitions on hold. 

In fact, around half expect to increase their borrowing in 2008, with 67% either confident or very confident they will secure the additional funding to support their plans. Importantly, managing late payers and the cash flow function were cited as a potential hindrance to growth. 

The survey, which was conducted at the Institute of Directors finance for SMEs seminar, also revealed that 63% of SMEs said they 'get by' in financial matters and use external sources to fill in the gaps.