Finance is a key part in the success and growth of any business, but with so many options available it can be difficult to find the perfect one for your business.
A recent EU Exit Business Readiness Weekly Update focused on access to finance. Read the 11th April Forum Slides
48% of SMEs do not currently use external finance nor plan to do so and are therefore less innovative and less likely to be planning to grow. With this in mind there are options available for businesses from start-up loans through to long-term equity investment. You just need to find the best option for your business!
UK Finance has launched a guide for businesses looking for assistance with finance and how EU Exit may affect their trading. This guide encourages businesses to prepare for potential impacts of upcoming changes. As well as engage with current finance providers to discuss options and support while also looking into alternative options.
What are my options?
British Business Hub Finance Bank- The UK’s domestic development bank which provides SME financial products, debt and equity with a focus on smaller UK companies (with under 250 staff).
The British Business Bank (BBB) works with over 100 partners to unlock funds for smaller businesses. The BBB has 6 key objectives which cover increasing supply of finance to providing information and expert advice.
We have included a couple of examples below for you to explore-
Bibby Financial Services – With a focus on invoice finance Bibby is ideal for businesses with customers with long payment terms which create a cashflow gap. They cater for all sizes of businesses and specialise in sectors including construction and exports.
Market Invoice – Offer invoice finance and business loans for entrepreneurs for businesses to grow without worrying about cashflow. Part of Peer-to-Peer Finance Association.