A new survey has found that UK companies are experiencing more
financial problems than their US counterparts.
Research by professional services firm KPMG found that 76 per cent of UK respondents said the current credit crunch had a high impact on their operations, compared to 23 per cent of US companies.
The survey also found that UK businesses are seeing a delay in customer payments, increased financing costs and reduced credit access.
Some 88 per cent of UK respondents said they will have to revisit refinancing plans in the next 24 months.
Andrew Ashby, director of KPMG advisory, said: "Given that the credit crunch began in the US, it is interesting - and perhaps surprising - to see that UK companies are feeling the pinch more than their transatlantic counterparts."
KPMG was recently awarded a CommunityMark, which recognises companies that invest in their communities.
The firm is now one of only 21 operations that have achieved the mark, which is endorsed by the government.
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