SMEs: Lack of Education Puts 1 UK Entrepreneur in 2 at Risk in Accessing Finance, Study Confirms

If you are a British entrepreneurs running a small or medium enterprise you are likely to be sitting within half of your peers wondering how to access finance.

Wondering about funding options. The lifeblood of the UK economy, SMEs contribute more than £200bn a year; with this number expected to grow by almost 20% by 2025. Yet, without a vital cash injection, this 2025 vision could be severely stinted, financial provider Liberis argues. (Pic sourse: Pixabay)

According to a research by a UK leading financial provider, Liberis, the main impeding factor is a lack of education or understanding of available funding options.

For instance, 57% of UK SMEs are unsure which provider to obtain funding from whilst 53% don’t even have set amount in mind when looking to access finance.

What’s more, the study shows, only 35% of business owners stated that they felt confident that they would be accepted when applying for additional finance.

Rob Straathof, CEO at Liberis said:

Without sufficient financial education and support, the UK’s business ambitions will be severely affected but by ensuring they have the correct financial understanding, we can help secure and strengthen their livelihood; fast-tracking their ambitions.

Find out more here.