Dentistry was a sector that weathered the 'credit crunch' fairly well. Goodwill prices continued to grow and banks continued to lend through the darker financial times.
Whilst lending conditions in the UK are generally calmer, the market place for dental practice acquisition finance has been a changing landscape in recent years. There are new players in the market, whilst the purse strings seem to be held a little tighter by some of the more traditional sources of funding.
Dental practice expansion or development is an area our dental team is becoming increasingly involved in. At present we are not seeing much issue when it comes to funding a tried and tested business with an experienced dentist at the helm. However, that doesn't cover every practice and the younger, less experienced but arguably more ambitious business owners might struggle.
60% of UK-based dentists answering ‘yes’ to the question ‘do you plan to seek funding for business investment in the next 12 months?’