Could You Grow Your Business?Posted 02 May 2018
Over half of UK businesses are unable to access the funding needed to grow because of a lack of education or understanding of their options, research from business finance specialist Liberis has revealed.
While 62 per cent of UK small to medium sized enterprises said they need funding to grow, 57 per cent were unsure which provider to obtain funding from and 53 per cent did not have a set amount in mind when looking to access finance.
Rob Straath of, CEO at Liberis, says: “These findings have opened our eyes to a lack of confidence and awareness among small to medium-sized enterprises in how to correctly secure the funding they so desperately need.”
Liberis found 22 per cent of companies require funding to maintain business as usual and five per cent need funding to survive past the first year of trading.
It believes better understanding of how to navigate the perceived funding minefield is crucial, not just for SMEs, but the economy as a whole.
The British Business Bank, the state owned economic development bank established by the government, has pledged to introduce a more targeted educational campaign about SME finance. Read more like this< Back