Alternative funding to help SMEs rebuild and grow

As the economy comes back to life, many growing SMEs are facing a funding drought, but there are alternatives to the high street banks, argues Caple’s Dominic Buch

We need the UK’s small but growing businesses now more than ever. There are some 36,000 SMEs in the UK, turning over between £1m and £50m. Despite being small in number they make a disproportionate contribution to the economy, employing 3.5m people and having a combined turnover of £639bn.

They must be at the heart of the economic recovery.

Many of these firms are now looking to recover, rebuild and grow. But few can access the right financing they need to implement their plans. Instead of looking towards traditional banks that are unable to help, growing SMEs should instead look toward alternative financiers that offer long-term funding.

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