Barclays Business Banking reveals it has seen the number and value of loans to the UK dentistry industry almost double* in the last two years, as dentists race to expand premises and invest in new technology to keep up with consumer demand.
The ‘Hollywood smile’
Eight out of ten (82 per cent) of dentists say celebrity culture has rocketed demand for dentistry work, with customers looking for a ‘Hollywood smile.’ A further 60 per cent have seen patients reference a specific celebrity smile they want to copy.
Top of people’s list is actor Margot Robbie, with the nation’s most sought-after smile, with Love Island’s Jack Fincham in second place. Hustle star Anne Hathaway was voted third.
Brits unhappy with their smiles
The research also found one in four Brits are unhappy with their teeth (27 per cent), with nearly two thirds (59 per cent) willing to spend money in order to achieve the ‘perfect smile,’ – an average of £1,121. In Brighton, those willing to spend money said they would splash the most cash – £2,157 on average, with Londoners close behind willing to spend £1,738.
Dentistry on the up
Over a fifth of dentists surveyed said they were considering taking out a loan in the next two years, with the most common reason being a desire to start a new practice (45 per cent), followed by wanting to buy more machinery or equipment (30 per cent).
Barclays has a specialist team of relationship managers working the length and the breadth of the UK dedicated to helping a whole range of businesses including dentists grow.
As part of a wider package of support for SMEs across the country, Barclays also recently announced a £14 billion lending fund*, aimed at businesses at several stages of growth and development.
For more information on Barclays Business Banking, visit: https://www.barclays.co.uk/business-banking/