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Business Banking Statistics
How do the UK’s businesses finance themselves?
With a stable flow of finances being the lifeblood of your business, picking the right business bank account for your specific needs is very important. We’ve collected some facts about how businesses in the UK support themselves.
The business finance market
What methods did SMEs use for funding in 2018 compared to 2017?
Credit card finance is consistently the most popular choice for businesses in need of extra funds, being used by 30% and 36% of SMEs in 2017 and 2018, respectively. The next two most popular choices are a bank overdraft and leasing/hire purchase. The most significant change is a 6% increase for credit card financing from 2017 to 2018. A number of businesses surveyed over the two years reported using more than one type of method.
The number of finance providers contacted by SMEs in 2018
SMEs seeking external financial advice in 2018
|Source||Percentage of companies|
|Friends and family||3%|
|Don't know/refused to say||1%|
British Business Bank
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