12 March 2021
Introducing the Small Business Finance Markets Report from the British Business Bank, bringing you the latest findings from our annual, in-depth analysis of smaller business access to finance in 2020/21.
This year the report focuses on the impact of Covid-19 on small business finance markets, economic recovery and implications for the year ahead. We also explore the use of finance by smaller businesses and market developments in finance products.
In the report you’ll read how we found that record levels of smaller businesses sought external financial support in 2020, with further significant demand expected in 2021.
Other key findings include:
- Almost half of SMEs applied for external financial support in 2020, compared to 13% in 2019
- 89% of businesses seeking finance in 2020 did so because of the impact of Covid-19
- Gross bank lending to SMEs up 82% to £104bn, with significant further demand expected in 2021
You can read the Small Business Finance Markets Report here.
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