funding from banks

Small and Mid-Sized Businesses Concerned about Funding Growth

Over half of small businesses have growth plans but two thirds believe they will not get the necessary funding from banks A recent survey by Close Brothers Business Barometer (CBBB) emphasised the need for small and mid-sized businesses to consider alternative finance options. The survey revealed that over 50% of small businesses plan to grow next year, but in order to do so they must seek funding from their banks – which nearly two thirds believe they may be denied. The number of businesses concerned about being refused funding has risen 10% since the start of 2013, with one in five respondents denied financial help by their bank in the last six months. The survey emphasised a need for a change in small and mid-sized bank lending; and the necessity of alternative funding information for s... »