Manx Financial comments on UK GDP growth

Commenting on a strong rise in UK GDP growth exceeding expectations, Douglas Grant (pictured), Group CEO of Manx Financial Group, said:

“Latest UK GDP figures offer reassurance to businesses and consumers, although the broader economic outlook remains challenging, particularly for SMEs. Cost pressures compounded by geopolitical factors such as trade tariffs and fiscal measures continue to squeeze costs and consumer spending. This environment heightens pressure on businesses, amplifying investment hesitancy and emphasising the need for adaptable lending strategies.

“Recent research from Manx Financial Group reveals that nearly a third of UK SMEs have already scaled back operations due to financial constraints. While this marks an improvement from last year, 10 per cent still struggle to secure financing. It is imperative that the Government aligns its growth ambitions with tangible financial support.

“As the backbone of the economy, the Labour Government must prioritise creating a stable, supportive financing environment. Yet, while its ambition for growth is clear, we’ve seen little progress in translating this into legislation that improves funding access. Slowing GDP growth, rising wage costs, and geopolitical instability are pushing SMEs to cut investment, scale back growth plans, and preserve cash. In this environment, demand is growing for flexible, Sterling-based working capital solutions – hallmarks of alternative lenders – as traditional finance tightens. This is a time for lenders to step up, not step backs.”

About Manx Financial Group PLC
Manx Financial Group PLC (MFG) is an AIM-listed company (LSE: MFX.L). 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.