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Survey confirms inspiration hits SMEs in the middle of the night

Research released by Barclays has revealed that over half of the UK’s small and medium enterprises (SMEs) have woken up at night with a new business idea (57%), while the most popular time for an idea to be dreamt up is between 2-3 am (28%).

Analysis revealed that almost half (48%) of SMEs said that they are more creative at night, with over two-fifths saying they are more productive outside of the regular 9–5 working hours and keep a note pad and pen by their bed so they can jot down ideas. Over half attributed this to having extra time to think away from daytime pressures.

With two-fifths of SMEs surveyed (44%) saying they would have more confidence in applying for a loan if they could see a pre-assessed limit, Barclays says it is offering over 360,000 customers pre-assessed limits on their digital channels. The limits for unsecured digital lending have recently increased to £100,000 from £25,000 for thousands of clients, with funds typically received in the account within 24 hours.

Barclays says that in 2018 it funded a new start-up every four minutes, with a total of £2.8bn of loans supporting small businesses. The bank recently unveiled a package of support for businesses as part of its Backing the UK initiative and to mitigate the impact of Brexit uncertainty, with a £14 billion dedicated lending fund, and a series of over 100 clinics providing business support and guidance hosted by the bank’s network of 1,500 relationship managers.

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Cash & Liquidity Mngm in Europe
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