Barclays says UK dentistry is ‘booming’
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- Published: Thursday, 23 May 2019 01:02
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Barclays Bank has revealed that business loans to dentists have near doubled in the last two years, as dentists race to expand premises and invest in new technology to keep up with consumer demand. Eight out of ten UK dentists (82%) believe celebrity culture has increased demand in consumers looking for a ‘Hollywood smile’. Over a quarter of British people surveyed said they are unhappy with their smile.
Barclays research found that 82% of dentists say celebrity culture has ‘rocketed’ demand for dentistry work, with customers looking for a ‘Hollywood smile.’ A further 60% 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.
The research also found one in four British people are unhappy with their teeth (27%), with nearly two thirds (59%) 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.
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%), followed by wanting to buy more equipment (30%).
Jane Khaliq, Industry Director at Barclays Business Banking, said: “We’ve seen a rise in the number of dentistry practices growing rapidly – and many are looking to expand their business further, from investing in new machinery or expanding premises. New technology in this area is paving the way for expansion in the sector, as innovative solutions are helping to fulfil Britain’s desire for the ‘perfect’ smile.”
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