British Business Bank Launches Online Finance FinderPosted 19 Sep 2018
The British Business Bank has launched the Finance Hub in response to a poll that revealed 33 per cent of small business owners want to grow their companies, but are unsure how to do it.
The interactive website provides independent information on finance options for scale-up, high growth and potential high growth businesses.
The study, commissioned by the UK government owned economic development bank, also revealed only five per cent of businesses have considered angel investment, while just seven per cent have contemplated crowdfunding.
Older business owners are significantly less likely to be aware of or have used alternative growth finance options than their younger counterparts.
19 per cent of millennials (under-35s), for example, have considered crowdfunding, compared to fewer than three per cent of over-35s.
Business confidence is high among those surveyed, with 51 per cent of respondents saying they expect to increase their income/turnover in the next financial year.
Only eight per cent expect their income/turnover to decrease.
Keith Morgan, CEO of the British Business Bank, says: “The financial landscape can be complex and confusing for smaller businesses trying to finance their growth ambitions.
“Today’s polling shows that too often smaller businesses want to grow, but don’t know where to start, meaning we miss out on their growth.
“Our Finance Hub provides independent and impartial information about the finance options for high growth smaller businesses.
“Its Finance Finder tool helps these small, high growth businesses understand their finance choices and identify the right finance for them to grow and succeed.” Read more like this< Back