Low interest rates offering SMEs a lifeline

Many firms continue to survive solely due to the lifeline offered to them by low interest rates which could put many out of business once removed.

Neil Hughes, managing partner of financial services firm Hughes Blake, urged policymakers to come up with a plan to limit the impact of inevitable rate increases and save as many small- and medium-sized firms as possible.

When rate increases are introduced, legacy debts and high rents will become a much larger burden to bear.