Gemma Harle, managing director of Tenet Lime said, “It’s clear that many small DA firms feel the regulatory burdens of doing business are becoming too onerous. While every business owner should have an exit strategy, the thinking and plans of many DA’s have been accelerated by regulatory requirements and the dysfunctional lending market.
“It’s important these firms recognise there is help out there. Our own DA proposition is constantly being developed to help deal with these issues but there is no denying that if you are a small DA firm then doing business feels disproportionately tough.”
The half year survey was conducted with intermediary business owners over August and September and involved over 50 in depth telephone interviews. Of those who answered the survey 75% were DA and 25% AR with 80% having 3 or less employees. 10% of the ARs spoken to were current members of the Tenet Network.