Nearly half of SME owners using unprotected loans to fund their business

Wealth manager Old Mutual Wealth is urging business owners to ensure they have cover in place to protect themselves from personal financial risk following research that found nearly half of SMEs are using loans and personal savings to fund their business. The poll, which questioned 250 SME business owners (up to 250 employees), found that 48% of SMEs had unprotected loans or debts supporting them, while the majority of owners (60.2%) have drawn upon at least part of their personal savings for funding.   The findings come after FSB figures show that 40% of small business reported fall ...