Catering industry is living 'on the breadline', finds study

Figures reveal that a significant number of the sector's SMEs would struggle to survive if they faced any immediate or unforeseen situations. Meanwhile, just over one in eight businesses (13%) believe that they have significant lending facilities to have a healthy cash position. John Jenkins, chief executive officer, GE Capital said: "With so many businesses under pressure due to increased competition, a decline in customer spend and increasing costs of raw materials, it is worrying that so many are not in a position to deal with an emergency should it arise." He added: "With many SMEs desperately seeking additional funding, it is good to see that there is a strong belief, among small and medium sized firms, that competition does exist in the market. "This will clearly serve to help them through times of both growth and of hardship. SMEs and their advisers should be aware of all the funding options available to them to ensure they have sufficient access to cash when they really need it." GE Capital is one of Europe's leading providers of working capital and asset based lending.