A report from money.co.uk found that the real estate industry had the third-highest small business turnover of any UK sector.
The research found that nearly half of the sector’s total revenue, 47.1%, came from companies with fewer than 50 staff.
Additionally, the report found that small to medium sized enterprises (SMEs) in real estate activities had a combined annual turnover of more than £33bn in the UK.
This made up almost half of all revenue in the industry.
The report added that with firms facing higher costs and falling growth, there was a risk of major losses to the wider economy.
Joe Phelan, business loans expert at money.co.uk, said: “A good credit history will show lenders that you can be trusted to make repayments, making them more likely to offer you funding.
“One of the simplest ways to build a better credit score is by using a business credit card. Making affordable purchases and repaying on time can help strengthen your credit profile.”
“A clear business plan with realistic revenue projections shows lenders you’re serious and will help them see how you’ll manage your repayments.
Phelan added: “When developing a business plan, it’s important to include key details like market analysis, cash flow, projected revenue, and proof of concept, such as current sales figures or even your social media following.”
“When considering a loan, lenders want to know one thing: ‘How likely am I to get my money back?’.
“A clear, well-thought-out repayment plan can give them confidence and, ultimately, improve your chances of approval.”
He said: “Like a business plan, a repayment plan should outline cash flow and time-stamped revenue projections.
“Lenders appreciate financial transparency, so outlining when they can expect to receive their return on investment is key.”
