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