AXA report

Small Businesses Failing to Make Use of Funding Incentives

AXA report reveals lack of knowledge is preventing small businesses accessing alternative finance options and government incentives In a report conducted by insurance firm AXA, data revealed that whilst 12% of small and mid-sized businesses accessed funding in 2013; only 5% used funding and lending schemes, with only 7% making use of government loans and 6% getting financial aid by means of Enterprise Investment Schemes (EIS) or Seed Enterprise Investment Schemes (SEIS). These numbers contrast with the larger statistics for businesses seeking finance through more traditional methods, with 44% relying on overdrafts, family and friends, and credit cards; and 20% taking out bank loans. With most of the small and mid-sized businesses surveyed looking to expand in 2014; and almost half planning... »