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Latest News

22 Nov

Our Future Derby

A new and exciting initiative which engages primary school children and introduces them to the changing world of work is being rolled-out across 37 primary schools in Derby. Find out how you can get involved.

21 Nov

New EAFRD to help create new jobs for Rural Businesses

The Rural Development Programme for England (RDPE) Growth Programme has opened a new call under the European Agricultural Fund for Rural Development (EAFRD) worth £35 million.

18 Nov

Enterprise and Innovation Centre at Nottingham Trent University

The new home for local businesses, start-ups, students, graduates and local entrepreneurs. Nottingham Trent University are opening a dynamic and innovative centre for both entrepreneurs and growing enterprises that want to work and co-locate with them.

The Business Finance Guide

bbf

The new Business Finance Guide – a journey from startup to growth sets out the main things to consider and outlines sources of finance available to businesses – ranging from start-ups to SMEs and growing mid-sized companies.

This unique guide, devised for businesses and advisers by the ICAEW Corporate Finance Faculty together with the British Business Bank, is supported by 21 major professional, membership and representative organisations.

It draws on the considerable expertise of its many contributors, who together represent more than a million members in businesses, finance providers, advisory firms and organisations.

The guide also includes several tools and ideas, as well as explanatory videos to help businesses consider their options, make decisions and plan how they will finance expansion.

The new guide can be accessed online at www.thebusinessfinanceguide.co.uk/bbb-d2n2lep

Businesses seeking access to finance in the Derby, Derbyshire, Nottingham and Nottinghamshire (D2N2) area can contact the D2N2 Growth Hub for advice on Local Access to Finance
Call 0333 006 9178 or email if@22rwhu.ounodngothbc.k or visit http://www.d2n2growthhub.co.uk/access-to-finance/38/local-access-to-finance

Key facts and statistics from BBB Small Business Finance Markets Report 2015/16

How businesses seek finance

  • SMEs are still most likely to go to their main bank when seeking finance
  • 3 out of 5 only contact one provider when seeking finance
  • Less than one in five use advice when seeking finance
  • 48% of SMEs are unlikely to seek advice if they have difficulty obtaining finance

The funding landscape more generally

  • A lack of businesses scaling-up is hampering UK productivity – there remains a need to stimulate a greater volume of scale-up businesses and SME exporters to counteract the UK’s lagging productivity. OECD data shows that Britain is near the bottom of the table for the percentage of businesses that grow to more than 10 employees after three years.
  • A need to deliver further diversity in the small business finance market – there is an ongoing need to accelerate the evolution of a diverse and accessible range of finance options to drive competition and choice for smaller businesses. The four largest banks still account for 80% of the small business loan market in 2014, with many small businesses not looking at alternative finance options beyond their main bank.
  • Supporting growing SMEs across all UK regions – the finance landscape remains uneven across the UK. To help rebalance growth, an increased availability of finance for smaller businesses across the UK is required. 71% of total SME equity investment is accounted for by London and South East based companies.

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