Small Business Finance Markets Report 2021
The British Business Bank is launching its latest Small Business Finance Markets Report – a comprehensive and impartial assessment of finance markets for smaller UK businesses.
Five key findings:
- Almost half (45%) of SMEs applied for external financial support in 2020, compared to 13% in 2019. Further significant demand is expected in 2021;
- Gross bank lending surged to a record high in 2020, driven by the Bank’s guarantee loan schemes introduced in response to the Covid-19 pandemic;
- Equity investment played an important role for innovative companies in 2020 reaching a record high of £8.8bn, an increase of 9% on 2019;
- Greater use of growth-orientated finance will be needed to help the UK achieve its stated aim of building back better;
- Finance providers remain well placed to support demand for finance in 2021.
The link to the report is here.