Number of Self-funded Small Businesses Jumps 18%

Report reveals that nearly half of small and mid-sized businesses are choosing to use their own savings to fund growth Research by Bibby Financial Services (BFS) discovered that the number of self-funded, or family and friend assisted, small businesses jumped 18% in the last six months. The number of companies relying on their own or family and friends’ savings has risen from 26% to 44%, making it the most popular form of funding among the group. The survey was conducted with 1,000 small and mid-sized businesses, of which many stated that they feel banks remain unwilling to lend to them. BFS’s chief executive officer, David Postings, believes that the sudden increase is a result of a newfound optimism with the economy’s growth; however he warns against self-financing for long-term, sustain... »