Manx Financial comments on latest GDP data and its impact on SME finance

Commenting on UK GDP data showing a weak economy with SMEs remaining under acute pressure, Douglas Grant (pictured), Group CEO of Manx Financial Group, said: “The UK economy remains weak, and SMEs are increasingly under acute pressure as the cost-of-living squeeze persists and geopolitical instability accelerates. Businesses urgently need to rethink their financial frameworks to strengthen stability and resilience. Regular budget reviews, agile supply chains, and strategic bulk purchasing can help offset rising costs, while embracing new technologies and streamlining operations will drive productivity and efficiency gains.

“Recent research from Manx Financial Group found that nearly a third of UK SMEs have had to pause or stop parts of their business over the last two years due to lack of finance. Moreover, 38 per cent expect stagnant growth in the year ahead, up from 25 per cent in 2024, highlighting the need for a more stable and inclusive lending environment.

“SMEs face a rapidly shifting landscape shaped by economic, political, and technological change. Business leaders must reassess their strategies to navigate these challenges and capitalise on opportunities. SMEs should seek to secure affordable credit and take advantage of any monetary easing to adapt and grow. Supporting this dynamic is crucial to sustaining recovery and ensuring SMEs remain at the heart of the UK economy.”

About Manx Financial Group PLC
Manx Financial Group PLC is an AIM-listed company. It is the holding company providing a range of diversified financial services to customers in both the Isle of Man and the United Kingdom. The sectors include banking services, payment solutions, foreign exchange, money saving solutions, wealth management, general insurance, and life insurance through its subsidiaries Conister Bank, Conister Finance & Leasing, Edgewater Associates, Manx Collections, MFX, Blue Star Business Solutions, The Business Lending Exchange, Payment Assist and Ninkasi Rentals & Finance.