1st June 2015

Small Business Demand for Alternative Finance Set to Soar

New research reveals that 64% of small business owners expect demand for alternative finance to increase over the next two years while just 8% think it will decline.

Article Image Circle Circle

Small Business Demand for Alternative Finance Set to Soar

The research further revealed that in 2014 the total amount raised through alternative forms of lending was an estimated £1.74 billion, double that of 2013. The research further revealed that:

• 42% of small businesses said they considered using alternative finance in the last five years.
• The most popular option, considered by 24% of respondents, was crowdsourcing finance, including peer-to-peer lending and crowdfunding, followed by cashflow/invoice finance (18%), property finance such as bridging loans and commercial mortgages(8%) and asset finance (6%), which covers areas such as plant and machinery and business equipment
• On a regional basis, 77% of small business owners in London predict a rise in demand for alternative finance, the largest portion in the UK
• Business owners in Scotland and Wales were equal second with 69%
• SMEs in the West Midlands were the least enthusiastic about alternative finance with 53% anticipating an increase

Categories: Articles

Other Articles You Might Like

Wealth & Finance International is part of AI Global Media

Discover our 10+ brands covering different sectors
APAC InsiderBUILD MagazineCorporate VisionEU Business NewsGHP NewsAcquisition InternationalNew World ReportMEA MarketsCEO MonthlySME NewsLUXlife MagazineInnovation in BusinessThe Business Concept