British Business Bank Newsletter Sum-up

Small Business Finance Market Report

The tenth edition of the British Business Bank’s Small Business Finance Market (SBFM) report is now available to view. The report’s key findings were:

1- Asset finance new deals up by 7% in 2023 to £23.5bn, the third yearly increase in a row and the highest level on record

2- Use of finance up from 41% of smaller businesses in first quarter to 50% in third quarter of 2023

3- Credit card and overdraft finance use up as business cashflows come under pressure Bank lending fell to £59.2bn, down 9% in nominal terms

4- Challenger and specialist banks account for 59% of total gross lending in 2023, exceeding the big 5 banks for the third consecutive year

5- Equity investment although declining to levels last seen in 2020, is still high by historic standards

6- UK business population up in 2023 for the first time since the start of the pandemic driven by rise in unregistered businesses

View/Download UK Press Release                         View/Download Full Report

————————————————————————————————————————————————————————————————————————————–

SME Intermediary Report Findings

British Business Bank invited a number of people to take part in some important research as someone that engages directly with SMEs on access to finance. They are pleased to share the findings of that research for the area and the access to finance issues that face the small businesses.

Intermediaries taking part in the research provide a wide range of different sector experiences, including accountants, lawyers, business support specialists and brokers. Data for each UK nation or region is based on the survey information provided by intermediaries on where the SMEs they engage with operate.

View London Findings Video                        Video Download Slides                         View Reports

————————————————————————————————————————————————————————————————————————————–

£140 Million lent to UK entrepreneurs over 50

Start Up Loans, part of the British Business Bank, has announced that it has delivered more than £140m of loans to UK entrepreneurs aged 50+ since its inception in 2012. The programme has supported 13,422 loans, at an average of £10,427.

Of these loans, more than £21m has gone to business owners over the age of 50 in London. 2,320 loans have been issued to businesses, with an average loan amount of £9,253 per business.

Read London Press Release

————————————————————————————————————————————————————————————————————————————–

Start Up Guides for SMEs

When starting up a new business, there are so many considerations so we are pleased to share some practical tips and guidance from business advisers and industry experts, designed to help SMEs to build their business. There are a range of handy guides from marketing and PR through to SEO and business resilience.

Start-up Guides

————————————————————————————————————————————————————————————————————————————–

 

Latest Articles from British Business Bank

Self assessment – understanding payments on account

For some SMEs, paying their tax bill can seem complex, especially if it is a new business owner going through the Self Assessment process for the first time. Here is an article to help with some of the questions they may have.

Small business tax guide

Small businesses face a number of taxes that they – and their directors – must pay.

Read more articles on British Business Bank’s Financial Hub

More Posts

LIFT OFF OPPORTUNITY NOW LIVE

PASSENGER EXPERIENCE The Q2 2024 Lift Off is now live for submission on the CompeteFor platform.  Selected companies may have an opportunity to present their services and products to the Heathrow panel of experts and strategic supply chain partners.  More information below. The deadline for

Read More

subscribe to our quarterly newsletter

1 Step 1
keyboard_arrow_leftPrevious
Nextkeyboard_arrow_right
FormCraft - WordPress form builder