The latest Association of Chartered Certified Accountant’s (ACCA) SME recovery tracker revealed that four in five UK SMEs are not seeking finance to grow in the next six to 12 months with 30% of accountants stating that their clients will need to use an overdraft in the next six months.

A further third expects their clients to apply for secured or unsecured business loans within the same time period and nearly half, 45%, expect their clients to apply for eligible business grants.