When it comes to finances, it’s no surprise that many small businesses are lacking in knowledge and confidence to make the right decisions. This proves true even for those businesses who, on paper at least, you might assume would have more in-depth knowledge of financial options, the UK’s business accounting community.
Despite SME's making up 99% of the private sector businesses in the UK, how many lending providers can really say they understand and cater their services to this audience who are so clearly in need of support?
In our latest audience insight report, we share the findings from a survey we ran across our small business and business accounting communities.
It reveals the level of knowledge, and awareness of, the different financing and lending options available to the UK’s small business market. And what we discovered was surprising.
- How familiar are you with different lending options?
- Who or what is your initial ‘go-to’ port of call for finance?
- Where do you actually go on to get business funding from ?
- What are your top 3 challenges in securing finance for your business?
- How do you feel about your relationship with your business bank?
- Over 80% of small business don’t believe banks do enough to go ‘above and beyond’
- Over half (52%) of UK small businesses currently self-fund
- 5 things bank and lending providers could do to better engage small businesses
- 3 opportunities to build a better working relationship between providers and business owners
- Examples of what ‘going above and beyond’ means to a small business owner
- Ways lending providers can help small businesses more effectively, and it’s not just with finance
Download our Small Business Lending report to get the answer to these questions and many more.