Business Start-Ups Shy Away from Banks

Small businesses are reluctant to approach banks for money and many think the availability of funding is poor.

Only around one in three SMEs have gone to their bank for money over the last twelve months, regardless of the size of the enterprise.

Perceptions of funding do differ, however with 28% of start-ups feeling that the availability of money is poor but only 16% of larger businesses agreeing.

This information for the Business Banking Study was collated by Mark Dennis, Director of Charterhouse Research who reported that the results point to negative expectations rather than an actual lack of funding. He suggests that perhaps start-ups and smaller businesses need more support and help to find out exactly what their funding options should be.

The Business Banking Survey is a syndicated study of 17,000 British businesses, ranging from start-ups to companies with a turnover of £1bn.

Bill Christie, Director of CER Business Finance Ltd is only too well aware that businesses both start ups and established ones tend to “go it alone” without seeking the professional help required in order to prepare and submit a lending proposal to the Lender appropriate for that businesses requirements.

Need help with Business Finance?