The CBI wants the UK to be the best place in the world to start and grow a business - and accessing the right finance is key to make this happen.
As this report sets out, SMEs are facing a cumulative burden of repaying loans, cash flow pressures, late and long payments, higher energy prices, and skills shortages – while navigating the effects of Brexit and COVID-19.
Working with EY, the CBI is providing resources and information to support your growth as an SME. This includes promoting government initiatives such as Help to Grow Digital and raising awareness of the support available to SMEs to manage debts and get financial help – such as Pay As You Grow and local authority grants.
This report sets out how the robust and diverse finance market is evolving – and where SMEs can play their part to get the finance they need.
Intermediaries play a critical role in connecting businesses with the right finance for them. Still, as this research demonstrates, providers are also changing their offering to support clients on their own terms.
As the sustainability agenda continues to gather pace, winning the race to net-zero offers benefits to every single business, with enhanced customer appeal – but it’s also the right thing to do for our society. Lenders realise this, and there is a growing wealth of guidance for firms taking the first step on their sustainability journey.
The CBI will continue to play an active role in debates on finance for growth, and pressing for a long-term guarantee scheme in the UK. Despite the innovations and progress made to date, the finance gap for smaller businesses has not gone away – we need a competitive finance market that helps your business realise its full potential.
Challenges aside, it’s an exciting time to be an SME, with new technologies and opportunities becoming available every day – and with the right finance, knowledge and skills, your growing business can Seize the Moment and Go for Growth.
- The current SME landscape: the impact from the pandemic and what SMEs want from their finance providers
- An overview of the types of business finance available to SMEs
- Pros and cons of different finance options
- How businesses can use finance to achieve sustainability ambitions
At the CBI, we believe that supporting your SME with financial knowledge and the steps to take (and what to look out for) when accessing finance will not only boost the economy – but also allow financial institutions to shape their offer to meet your business needs.