Bank lending to dentistry doubles in the last two years
The number and value of loans to dentistry has doubled over the last two years, according to Barclays Business Banking.
Demand for dentistry is increasing due to a celebrity culture demanding a ‘Hollywood smile’, 82% of dentists claim.
This has led to the bank almost doubling its lending to the UK dentistry industry.
‘We’ve seen a rise in the number of dentistry practices growing rapidly,’ Jane Khaliq, industry director at Barclays Business Banking, said.
‘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.
‘Innovative solutions are helping to fulfil Britain’s desire for the “perfect” smile.
‘Our team of over a thousand relationship experts across the UK are primed to support SMEs as they look to diversify and grow their businesses.’
Margot Robbie tops the list of the nation’s most sought-after smile, closely followed by Love Island’s Jack Fincham.
Dentists claim 60% of patients reference a specific celebrity smile they would like, Barclays’ survey says.
‘I’ve seen a massive increase in patients wanting cosmetic dentistry,’ Dr Aria, principal dentist of Harrow Dental Practice, said.
‘In particular, tooth whitening and braces, with many clients bringing in photos of celebrities to show me their dream smile.
‘[Financial] support has enabled me to keep up with demand and extend my practice.
‘I’ve also invested in technology, with a scanner that can create an image of how teeth will look after surgery in just 60 seconds, which has more than doubled the number of patients visiting my practice.
‘It’s clear that tech, including 3D printing and AI, will shape the future of the industry.’
One in four (27%) Brits aren’t happy with their teeth, the survey also shows.
More than half, 59%, are willing to spend an average of £1,121 to achieve their perfect smile.
People from Brighton are willing to spend the most on their smile at £2,157, with London following closely behind – £1,738.