This survey, undertaken by Ipsos MORI for the British Business Bank, follows on from the previous “SME Journey” surveys from 2012 to 2017 to explore SME awareness of different types of external finance and their experience of raising finance.
It feeds into the British Business Bank’s 2018/19 Small Business Finance Markets report to assess how finance markets have changed.
The survey includes new data on the awareness and use of finance by smaller businesses, as well as information on the growth plans of those businesses.
Product Brochure with summarized information of our publication " Vietnam B2C E-Commerce Market 2018".
Find more here: https://www.ystats.com/market-reports/vietnam-b2c-e-commerce-market-2018/
After a nine month decline, consumer confidence has risen in the third quarter of 2017 in a sign that consumers are showing resilience at a time when Brexit and other factors could be causing uncertainty. This quarter-on-quarter growth has occurred against a well-publicised backdrop of high levels of unsecured debt and rising inflation.
Drawing on data sources such as the Grant Thornton IBR, the EIU and the IMF, this short report considers the outlook for the economy, including the expectations of 200
businesses interviewed in Finland, and more than 12,500 globally, over the past 12 months.
Product Brochure with summarized information of our publication " Vietnam B2C E-Commerce Market 2018".
Find more here: https://www.ystats.com/market-reports/vietnam-b2c-e-commerce-market-2018/
After a nine month decline, consumer confidence has risen in the third quarter of 2017 in a sign that consumers are showing resilience at a time when Brexit and other factors could be causing uncertainty. This quarter-on-quarter growth has occurred against a well-publicised backdrop of high levels of unsecured debt and rising inflation.
Drawing on data sources such as the Grant Thornton IBR, the EIU and the IMF, this short report considers the outlook for the economy, including the expectations of 200
businesses interviewed in Finland, and more than 12,500 globally, over the past 12 months.
Solving the UK's Productivity Problem against the backdrop of Brexit - challe...enterpriseresearchcentre
Keynote Presentation at SME Live 2018,NEC, October 16th by Mark Hart.
Solving the UK's Productivity Problem against the backdrop of Brexit - challenges and opportunities for small businesses
European banking barometer - Belgian results EY Belgium
The European Banking Barometer provides a benchmark and overview of the macro-economic outlook and its impact on the European banking industry, as well as the priorities banks will focus on over the next six months.
The gradual recovery of European banks is expected to continue. Most bankers remain positive about the economy and their bank’s performance, but the sector isn’t out of the woods yet. After a significant swing towards optimism in our previous edition, our latest survey reveals that a few more bankers expect the economy to improve but most only anticipate slight improvement.
EY's European Banking Barometer – 2015 identifies the views of 226 senior European bankers across 11 markets regarding their views of the macro-economic outlook and the impact they think it will have on the banking industry in 2015.
For further information visit: www.ey.com/ebb
The Deloitte CFO Survey: 2015 Q4 A cautious start to 2016Deloitte UK
The quarterly CFO Survey is firmly established with media and policy makers as the authoritative barometer of UK corporates’ sentiment and strategies. It is the only survey of major corporate users of capital that gauges attitudes to valuations, risk and financing.
Ipsos MORI has carried out research on behalf of The Institute of Chartered Accountants of Scotland (ICAS) and The Times, aimed at understanding senior financial and business decision makers’ attitudes towards corporate taxation and the European Union.
Businesses and Tax - The Perils of PerceptionIpsos UK
People significantly underestimate how much tax revenue comes from businesses, a poll conducted by Ipsos MORI on behalf of the CBI finds. On average the public think only 17% of total tax revenue is provided by business. In fact, in 2014, business paid nearly £175 billion in tax – 29% of all taxes.
EY French Venture Capital Barometer - 1st semester 2016EY
The EY French Venture Capital Barometer surveys equity financing deals for start-ups and early-stage businesses, announced prior to July 25 2016, with a deal date from January 1 to June 30 2016.
Are we overpaying or Underpaying? 2015 Vietnam Undergrad Wage ExpectionMarketIntello
Students’ wage and employment expectations are influential in their first job selection after graduation. The emphasis of this study is on the formation of student wage and employment expectations, as well as comparing the expectations of students in the two biggest cities of Vietnam – Hanoi and Ho Chi Minh City.
This survey, undertaken by Ipsos MORI for the British Business Bank, follows on from the previous 2012, 2014, 2015 and 2016 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. It fed into British Business Bank’s 2017/18 Small Business Finance Markets report to assess how finance markets have changed.
The survey includes new data on the awareness and use of finance by smaller businesses, as well as information of the growth plans of those businesses. Awareness of finance products among SMEs is plateauing, but shopping around when they have a finance need is rising, with fewer considering just one provider.
Solving the UK's Productivity Problem against the backdrop of Brexit - challe...enterpriseresearchcentre
Keynote Presentation at SME Live 2018,NEC, October 16th by Mark Hart.
Solving the UK's Productivity Problem against the backdrop of Brexit - challenges and opportunities for small businesses
European banking barometer - Belgian results EY Belgium
The European Banking Barometer provides a benchmark and overview of the macro-economic outlook and its impact on the European banking industry, as well as the priorities banks will focus on over the next six months.
The gradual recovery of European banks is expected to continue. Most bankers remain positive about the economy and their bank’s performance, but the sector isn’t out of the woods yet. After a significant swing towards optimism in our previous edition, our latest survey reveals that a few more bankers expect the economy to improve but most only anticipate slight improvement.
EY's European Banking Barometer – 2015 identifies the views of 226 senior European bankers across 11 markets regarding their views of the macro-economic outlook and the impact they think it will have on the banking industry in 2015.
For further information visit: www.ey.com/ebb
The Deloitte CFO Survey: 2015 Q4 A cautious start to 2016Deloitte UK
The quarterly CFO Survey is firmly established with media and policy makers as the authoritative barometer of UK corporates’ sentiment and strategies. It is the only survey of major corporate users of capital that gauges attitudes to valuations, risk and financing.
Ipsos MORI has carried out research on behalf of The Institute of Chartered Accountants of Scotland (ICAS) and The Times, aimed at understanding senior financial and business decision makers’ attitudes towards corporate taxation and the European Union.
Businesses and Tax - The Perils of PerceptionIpsos UK
People significantly underestimate how much tax revenue comes from businesses, a poll conducted by Ipsos MORI on behalf of the CBI finds. On average the public think only 17% of total tax revenue is provided by business. In fact, in 2014, business paid nearly £175 billion in tax – 29% of all taxes.
EY French Venture Capital Barometer - 1st semester 2016EY
The EY French Venture Capital Barometer surveys equity financing deals for start-ups and early-stage businesses, announced prior to July 25 2016, with a deal date from January 1 to June 30 2016.
Are we overpaying or Underpaying? 2015 Vietnam Undergrad Wage ExpectionMarketIntello
Students’ wage and employment expectations are influential in their first job selection after graduation. The emphasis of this study is on the formation of student wage and employment expectations, as well as comparing the expectations of students in the two biggest cities of Vietnam – Hanoi and Ho Chi Minh City.
This survey, undertaken by Ipsos MORI for the British Business Bank, follows on from the previous 2012, 2014, 2015 and 2016 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. It fed into British Business Bank’s 2017/18 Small Business Finance Markets report to assess how finance markets have changed.
The survey includes new data on the awareness and use of finance by smaller businesses, as well as information of the growth plans of those businesses. Awareness of finance products among SMEs is plateauing, but shopping around when they have a finance need is rising, with fewer considering just one provider.
Brazil Digital Report: a first-edition dossier on the Brazilian digital economy. A comprehensive report on trends and facts for investors, public and private institutions, entrepreneurs, executives, students, and for digital savvy people who are curious about Brazil.
https://www.brazilatsiliconvalley.com/
Brazil Digital Report - 1st Edition By McKinsey & Company and Brazil at Silic...Ana Lucia Amaral
An amazing initiative by McKinsey and Brazil at Silicon Valley: A report that presents an overview of Brazil’s economy, including its innovation, digital and entrepreneurial landscape. Source: https://www.brazilatsiliconvalley.com/brazil-digital-report
#BSV19
Brazil Digital Report - 1st Edition
A first-edition dossier on the Brazilian digital economy
April 8th, 2019
The Report
A comprehensive 191-page report on the Brazilian digital economy, including macroeconomic indicators, Internet trends, investment facts, and data on the overall entrepreneurship and innovation landscape.
The Audience
This report is intended for all those who can play a part in driving the innovation agenda in the country – entrepreneurs, investors, public and private institutions, global business leaders, as well as digital savvy people who are curious about Brazil.
The Methodology
This is a curated compilation of public information and selected proprietary McKinsey data. We aspire to revise it annually with fresh data in order to tell the ongoing story of Brazil’s digital and innovation evolution.
Acknowledgments
McKinsey thanks the support it has received from Brazil at Silicon Valley, a student-led movement that started at Stanford University and whose mission is to improve Brazil’s competitiveness and global relevance through technology and innovation.
Ipsos MORI Captains of Industry Survey 2017Ipsos UK
Ipsos MORI conducted 100 interviews with participants from the top 500 companies by turnover and the top 100 by capital employed in the UK. Two thirds of those Captains of Industry interviewed are not confident in the Government's ability to negotiate with the EU.
British Business Bank Small Business Finance Markets 2018 report – slide deckAlice Hu Wagner
This presentation highlights key findings from the British Business Bank’s Small Business Finance Market 2018 report and focuses on areas including patient capital, regional imbalances and demand for finance.
The Beat is an Ipsos always on community of engaged consumers, representative of the UK population, for rapid understanding of consumer views. In this edition, we explore people’s views on the Brexit vote 5 years on, and how they feel about the vote they made.
Jayesh Navin Shah, from Ipsos MORI Public Affairs, presented our findings on cyber skills gaps and shortages in the UK at the SC Digital Congress 2021. The findings are taken from Ipsos MORI’s report, Understanding the UK Cyber Security Labour Market 2021 study, carried out on behalf of the UK Department for Digital, Culture, Media and Sport.
https://www.sccongressuk.com/digital-congress/
Jayesh Navin Shah, from Ipsos MORI Public Affairs, presented our findings on cyber resilience among UK businesses and charities at the SC Digital Congress 2021. The findings are taken from Ipsos MORI’s Cyber Security Breaches Survey 2021, carried out on behalf of the UK Department for Digital, Culture, Media and Sport.
https://www.sccongressuk.com/digital-congress/
Ipsos Global Advisor: The Perils of Perception: Environment and Climate ChangeIpsos UK
People around the world say they understand what actions they need to take to combat climate change, but do they really? The latest Perils of Perception study by Ipsos looks at how the general public in 30 markets around the world perceive environmental action. We ask them what they might do in their own lives to tackle climate change, and compare the answers to the (sometimes confusing) scientific truth.
Ipsos Community: Quotes following the events around the vigil for Sarah EverardIpsos UK
The horrific murder of Sarah Everard has raised the need to debate the safety of women in public spaces. We've seen the alarming images from the vigil turned protest on Clapham Common. We were keen to hear how these events were perceived by the public, so we turned to our 'always on' Ipsos community to hear their views.
The 2020 Global Infrastructure Index - undertaken in partnership by GIIA and Ipsos MORI and the largest global survey of its kind looking at public attitudes towards infrastructure and investment – shows that the British public believe investment in infrastructure should form a key part of the UK Government’s plan to secure economic recovery from the Covid-19 pandemic.
Since the outbreak of the COVID-19 pandemic, women of all ages across Britain are more pessimistic and worried than their male counterparts. This new webinar explores why.
Looking at data around the balance of responsibility and mental load at work and at home for women compared to men, the additional stresses that the pandemic has put on women of all ages, and the specific damages it has made to women's work-life balances and future ability to progress in a career, our expert speakers will examine how the disease - despite being more prevalent in men - might be more damaging to women.
Ipsos has analysed data from more than 2,000 women of working age across Britain to examine what is happening, explore the causes and explain what can be done to better support those women being hit hardest by the pandemic.
Speakers include:
Jane Merrick, Policy Editor, the I newspaper
Kully Kaur-Ballagan, Research Director, Public Affairs
Jordana Moser, Business research specialist, Ipsos MORI
Kelly Beaver, Managing Director, Ipsos MORI Social Research Institute (Chair)
With just a few weeks to go before the 2020 presidential election in the US, Ipsos MORI hosted this webinar to explore the complexities and current uncertainties regarding the process and outcome of the election.
As part of the webinar, Clifford Young, our President of Public Affairs in the US, shared findings from our latest political polling.
Full webinar: https://youtu.be/d012B5iwSzQ
Sexual orientation and attitudes to LGBTQ+ in BritainIpsos UK
New Ipsos MORI research shows that Britons think LGBTQ+ communities face discrimination in Britain today, but opinion is split regarding the progression of LGBTQ+ rights.
COVID-19: Conspiracies and Confusions and the link with Social MediaIpsos UK
There is a toxic mix between underlying beliefs, misleading information and how people act around the COVID-19 coronavirus pandemic according to a new survey by Ipsos MORI and The Policy Institute and King's College London.
Solving the Cyber Security Skills Gap with DCMSIpsos UK
Taking findings from Ipsos MORI’s latest cyber security labour market study for DCMS, published in March 2020, we explore three areas in this webinar:
1. The demand for cyber skills in the UK
2. The training and qualifications landscape
3. Recruitment and diversity
Boris Johnson’s favourability rating increases sharply, with the Conservative Party’s image also showing some improvement
By a small margin, the public now think the country is heading in the right direction
One in two Britons are yet to form a view new Labour leader Keir Starmer. Those who do express a view expect him to improve the party’s fortunes by a seven-to-one margin
Economic optimism has fallen to its lowest level since the 2008 financial crisis, according to Ipsos MORI’s new Political Monitor. The new poll, conducted between 13-16 March, so before some of this week’s emergency measures were announced, shows seven in ten (69%) now say they think the economy will get worse in the next 12 months – this is up from 42% in February. Just 15% think that the economy will improve, leaving an Economic Optimism Index score of -54. The last time pessimism was this low was in November 2008 (at its worst during the 2008 crisis 75% thought the economy would get worse). Despite this pessimism, around half (49%) believe the Government is handling the coronavirus outbreak well (35% say badly).
International Women's Day 2020: What is acceptable behaviour in the workplace?Ipsos UK
A new survey of more than 20,000 people in 27 countries from Ipsos MORI and King's College London for International Women's Day 2020 finds significant differences in what women and men see as acceptable workplace behaviour.
Coronavirus Opinion and Reaction - Ipsos MORIIpsos UK
A new global poll by Ipsos MORI shows the extent to which the UK public may change their behaviours because of the threat of the virus, including 14% saying they would avoid contact with people of Chinese origin or appearance.
The threat of the Covid-19 could have a significant impact on the UK public’s behaviour, according to an Ipsos survey conducted online from February 7 to 9, 2020 among 8,001 adults aged 16 (18) -74 in Australia, Canada, France, Germany, Japan, Russia, the United Kingdom, and the United States.
Two-thirds of people in the UK say they would consider avoiding travelling to infected countries or areas (65%), while three in ten would avoid large gatherings of people or travelling by air for holidays (both 29%). A quarter say they would avoid shaking hands with others (26%), and one in five say they would avoid travelling by public transport (22%).
This study did not have any external sponsors or partners. It was initiated and run by Ipsos with the intention to share our understanding about the world we live in and how citizens around the globe think and feel about their world.
The Perils of Perception 2020: Causes of DeathIpsos UK
Ipsos’ latest Perils of Perception study highlights public misperceptions across 32 countries about the proportion of people who die from diseases, violence, transport injuries and other causes. While patterns differ in different countries, overall on average people tend to underestimate how many deaths are caused by cancers and cardiovascular disease, and overestimate how many are caused by transport injuries, substance misuse and violence.
Public Perception of Environmental Impact: Ipsos Omnibus PollIpsos UK
As concern about the environment continues to rise, 81% of Britons believe that the Government should take partial or full responsibility for reducing the harm we do to the environment. Within this, 1 in 5 believe the Government should take main responsibility while 61% believe it should be split between the Government, Businesses and the public, an Ipsos MORI Omnibus Survey has found.
Ipsos MORI Social Media Britain November 2019Ipsos UK
The key findings of the November 2019 edition of our new Social Media Britain report - powered by Synthesio - include:
Overall Brexit continued to lead the conversation in November – however there was a 59% increase in NHS related mentions vs. October. This was driven in part by Corbyn revealing documents that he says indicate a Conservative government would sell off the NHS as part of a US trade deal.
The general election, which is the focus of our deep dive this month, as well as the London Bridge terror attack - both contributed to sizeable shifts in social conversation.
Following the ITV Leaders Debate, there was a sharp increase in conversation around the general election. The release of the Labour and Conservative manifestos seeing further spikes in volume towards the end of November.
When comparing Johnson and Corbyn activity on Twitter in November there were some notable differences in the focus of their posts. Whilst Brexit was mentioned across 42% of Johnson’s tweets – it was only mentioned within 6% of Corbyn’s. Corbyn focused mainly on the NHS, which was mentioned in just over a third of his tweets.
Ipsos MORI 2019 General Election Campign Tracker - HousingIpsos UK
New research from Ipsos MORI finds the major housing parties included in Conservative, Labour and Liberal Democrat manifestos are popular, but the public also have strong doubts that anyone will improve housing if elected.
Ipsos MORI Political Monitor - 6 December 2019Ipsos UK
Conservatives hold 12-point lead over Labour heading into final week of the election campaign
Corbyn has improved leader satisfaction ratings since October but still trails Johnson
NHS of increased importance to voters as an election issue
One in four may change their minds on who to vote for before next Thursday
More of the British public are opposed to a second referendum on Scottish independence next year than support one
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
2. www.british-business-bank.co.uk
@britishbbank
2
Contents
• Background – page 3
• Growth – page 4
• EU Referendum – page 11
• Awareness of Different Types of Finance – page 21
• Finance Usage and Application – page 25
• Perceptions of Raising Finance and Future Use – page 51
• Equity Finance – page 57
• Invoices and Late Payment – page 62
• Summing Up – page 68
3. www.british-business-bank.co.uk
@britishbbank
3
Background
• In 2012, BIS commissioned a new survey exploring the stages SMEs go through
when considering the need to raise external finance and the specific actions they
take (1,500 SMEs interviewed by CATI)
• The British Business Bank repeated the survey in 2014 (1,000 SMEs interviewed),
in 2015 (1,608 SMEs), 2016 (1,535 SMEs) and in 2017 (2,070 SMEs)
• 2018 survey is based on 2,000 interviews with SMEs in September and October.
Some new questions were added, but core questions remain the same enabling
comparison over time
• Statistically significant changes between the 2017 and 2018 surveys (at 95%
confidence level) are identified by green arrows (increases) and red arrows
(decreases)
5. www.british-business-bank.co.uk
@britishbbank
5
Three in ten SMEs grew in the past 12 months
7%
37%
56%
%
Growth of business turnover in past 12 months
8%
8%
14%
45%
23%
Grown by 20% or more
Grown between 10% and 20%
Grown by up to 10%
Stayed around the same size
Become smaller
Has turnover grown 20+%
for previous 2 years?
Base = all SMEs in business 3+ years (n=1,927), Question B4. All SMEs grown 20+% past 12 months (n=200). Question B4/B5. (single code, prompted)
Yes
No
Don’t know
Proportion of firms with 3 years of
20%+ growth
6. www.british-business-bank.co.uk
@britishbbank
6
Expect to grow turnover in next 12 months
SME growth expectations in line with those seen in 2017
Base = all SMEs (n=2,000 In 2018), no employees n=821, micro n=667, small n=311, medium n=201. Question B6 (single code, prompted). C1/C2.
9
8
11
14
10
9
8
12
13
15
18
16
25
27
41
44
46
38
35
26
18
20
10
8
4
3
3
3
3
3
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
All
No employees
Micro (1-9)
Small (10-49)
Medium (50-249)
% Grow substantially (20%+) % Grow significantly (10%-20%) % Grow moderately (up to 10%)
% Same size % Shrink/sell/close % Don't know/Other
36%
31%
48%
54%
67%
% Expect to grow
moderately or better
21% have
exported in
past 3
years
23% plan
to export
in next 3
years
7. www.british-business-bank.co.uk
@britishbbank
7
Growth expectations among SMEs that have exported in past 3 years
– by number of employees
SMEs that have exported in the past three years have higher growth expectations
Base = all SMEs who exported in the past 3 years (n=506 exporters in 2018, 1487 non-exporters), no employees exporters n=162, non-exporters n=658; micro exporters
n=162, non-exporters n=503; small exporters n=105, non-exporters n=205; medium exporters n=77, non-exporters n=121. Question B6 (single code, prompted).
17
16
20
14
9
14
14
14
16
17
18
16
20
29
43
34
33
37
31
26
16
20
7
8
5
2
3
2
4
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
All
No employees
Micro (1-9)
Small (10-49)
Medium (50-249)
% Grow substantially (20%+) % Grow significantly (10%-20%) % Grow moderately (up to 10%)
% Same size % Shrink/sell/close % Don't know/Other
49%
46%
54%
59%
69%
% Expect to grow
moderately or better
32%
28%
47%
51%
66%
Non-
Exporters
Exporters
8. www.british-business-bank.co.uk
@britishbbank
8
Similarly, those planning to export are more optimistic regarding growth potential
Base = all SMEs to plan to export in the next 3 years (n=531 in 2018, 1431 non-exporters), no employees exporters n=171, non-exporters n=632; micro exporters n=172,
non-exporters n=485; small exporters n=107, non-exporters n=197; medium exporters n=81, non-exporters n=117. Question B6 (single code, prompted).
20
20
22
15
9
13
12
13
16
18
20
20
19
30
41
31
28
38
29
28
12
15
6
6
5
4
4
2
4
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
All
No employees
Micro (1-9)
Small (10-49)
Medium (50-249)
% Grow substantially (20%+) % Grow significantly (10%-20%) % Grow moderately (up to 10%)
% Same size % Shrink/sell/close % Don't know/Other
Growth expectations among SMEs planning to export in next 3 years
– by number of employees
31%
26%
46%
49%
66%
Non-
Exporters
53%
52%
54%
61%
68%
Exporters
% Expect to grow
moderately or better
9. www.british-business-bank.co.uk
@britishbbank
9
Small and medium-sized businesses more optimistic about trading conditions than
micro businesses and sole traders
Base = all SMEs (n=2,000 in 2018) no employees n=821, micro n=667, small n=311, medium n=201. B7 (single code, prompted).
Expectations for the business’ trading conditions in the next 12 months
5
5
7
8
8
15
14
16
22
23
47
48
43
45
44
19
18
21
15
20
9
9
8
5
3
6
5
5
4
1
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
All
No employees
Micro (1-9)
Small (10-49)
Medium (50-249)
% Significantly better % Slightly better % About the same
% Slightly worse % Significantly worse % Don't know/Refused
20%
19%
23%
30%
31%
Better
10. www.british-business-bank.co.uk
@britishbbank
10
Base = all SMEs (n=2,000). Question B8 (single code, prompted)
Obstacles in the next 12 months
60
48
54
11
21
20
8
13
13
6
8
5
6
6
3
4
3
2
5
1
3
0 10 20 30 40 50 60 70 80 90 100
% One - not an obstacle at all % Two to four % Five
% Six to seven % Eight to nine % 10 - a major obstacle
% Don't know
6-7
8% in 2018
9% in 2017
6-7
5% in 2018
5% in 2017
6-7
6% in 2018
6% in 2017
Around one in ten view recruitment and cash flow / late payment as significant
obstacles
Moderate
obstacle
8+ =
9% in 2018
8% in 2017
8+ =
5% in 2018
6% in 2017
8+=
10% in 2018
9% in 2017
Significant
obstacle
Issues recruiting and
retaining skilled staff
Cash flow or issues with
late payment
Availability of relevant
advice for your business
12. www.british-business-bank.co.uk
@britishbbank
12
6
6
6
56
57
53
29
29
31
9
8
10
0 10 20 30 40 50 60 70 80 90 100
All
No
employees
Employees
% More % Neither % Less % Don't know/Refused
Grow more/less as result of leaving EU - by number of employees
Base = all SMEs (n=2,000 In 2018, n=2,070 in 2017; no employees n=821 in 2018, n=855 in 2017 ; employees n=1,179 in 2018, n=1,215 in 2017. Question C6 (single code, prompted)
5%/22%
5%/21%
5%/25%
SMEs are more pessimistic about the impact of leaving the EU on growth than in
2017, although the majority see no impact
2017
More/Less
13. www.british-business-bank.co.uk
@britishbbank
13
5
33
222
7
4
5
14
10
11
EmployerNo employeesAll
Under a fifth of SMEs have made changes as a result of leaving the EU
Base = all SMEs (n=2,000 In 2018). Question C7 (multi code, prompted).
SMEs who have already made changes as result of leaving EU - by number of employees
17% have
already made
changes. More
likely for those
with employees
(22% vs. 15% with
no employees)
% exports
% investment plans
% prices of goods and services
% staff employed
14. www.british-business-bank.co.uk
@britishbbank
14
8
4
5 5
44
7
5
6
20
17
18
EmployerNo employeesAll
Around one in four plan to make changes, with more planning changes to investment
and staff
Base = all SMEs (n=2,000 In 2018). Question C8 (multi code, prompted).
SMEs who plan to make changes as result of leaving EU - by number of employees
27% plan to
make changes.
More likely for
those with
employees (32%
vs. 26% with no
employees)
% exports
% investment plans
% prices of goods and services
% staff employed
15. www.british-business-bank.co.uk
@britishbbank
15
Most SMEs have not seen any impact on sales so far but more expect sales will be
affected
Base = all SMEs (n=2,000 in 2018, Production n= 310, Construction n = 328, Distribution n=450, Business services n=598, Other services n=314). Question C11 (multi code, prompted)
Impact of leaving EU on sales by sector
22%
26%
24%24%
22%
24%
12%
20%21%
12%11%
16%
Other servicesBusiness
services
DistributionConstructionProductionAll
% Yes - will affect sales in next 12 months % Yes - already affected sales
Total yes has/will
affect sales: 32% 28% 30% 35% 37% 27%
% Yes - already affected sales % Yes - will affect sales in next 12 months
17. www.british-business-bank.co.uk
@britishbbank
17
13%
67%
20%
Don’t
know
Employers more likely to report scaling back investment in 2018
Base = All employers who have already made or plan to make changes to investment (n=122 in 2018) Question C9 (single code, prompted). All employers who have already made or plan
to make changes to staff employed (n=164 in 2018) Question C10 (multi code, prompted)
Changes to investment and staff as a result of leaving the EU – employers only
42%
38%
32%
23%
20%
19%
18%
11%
6%
Hire fewer new staff than would have been
the case
Invest in training/ upskilling staff
Use staff on different contracts
Make staff redundant
Decrease number of hours of existing staff
Hire more new staff than would have been
the case
Increase number of hours of existing staff
Other
Don’t know/Refused
Changes to staffChanges to investment
A greater
amount
A smaller
amount
23% said a greater amount and
54% a smaller amount in 2017
18. www.british-business-bank.co.uk
@britishbbank
18
1
3
2
7
7
5
7
10
4
59
63
56
61
56
65
21
10
28
17
23
19
11
17
10
15
8
12
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
All
Production
Construction
Distribution
Business services
Other services
% Increase sales by more than 20% % Increase sales up to 20%
% Decrease sales up to 20% % Decrease sales by more than 20%
3
There is a rise in the share of those expecting a decrease in sales of over 20%
Impact of leaving EU on sales
Base = all SMEs that have or expect changes to sales as a result of leaving EU (n=638 In 2018, n=558 In 2017; Production n=101 in 2018, n=100 in 2017; Construction n= 105 in 2018, n= 51 in 2017; Distribution
n=158 in 2018, n=159 in 2017; Business services n=203 in 2018, n=196 in 2017; Other services n=71 in 2018, n=49 in 2017). Question C12 (single code, prompted).
16%/8%
15%/10%
27%/5%
14%/7%
13%/12%
18%/4%
Increase 2017/18
% Don’t know/Refused
19. www.british-business-bank.co.uk
@britishbbank
19
One-third of SMEs think obtaining equity or debt finance will be more difficult
Base = all SMEs (n=2,000 in 2018). Question C14 (single code, prompted)
Impact of leaving EU on obtaining debt and equity
12
11
24
23
42
37
2
2
1
1
18
25
0 10 20 30 40 50 60 70 80 90 100
% A lot more difficult % A little more difficult % No impact
% A little easier % A lot easier % Don't know/Refused
More
difficult/
easier
36%/3%
34%/3%
Debt
(e.g.
overdraft,
bank loan)
Equity
20. www.british-business-bank.co.uk
@britishbbank
20
Among SMEs expecting a change to exports, there is rise in the share of those
expecting a decrease in exports, with a sharp increase of ‘don’t knows’
Impact of leaving EU on exports
Base = all SMEs who have already made or plan to make changes to exports as a result of leaving EU (n=124 in 2018). Question C13 (single code, prompted).
61% / 11%30 31 7 4 28
0 10 20 30 40 50 60 70 80 90 100
Decrease exports by more than 20% Decrease exports up to 20%
Increase exports up to 20% Increase exports by more than 20%
% Don't know/Refused
Decrease / increase
22. www.british-business-bank.co.uk
@britishbbank
22
Awareness of forms of external finance 2016-2018
Encouragingly, awareness of almost all external forms of finance has increased
significantly since 2017
89%
69%
70%
52%
41%
12%
86%
62%
60%
47%
32%
12%
88%
64%
51%
45%
38%
13%
Leasing/hire purchase
Venture capitalists
Crowd funding platforms
(a)
P2P lending
Business angels
Mezzanine finance
2018
2017
2016
Base = all SMEs (n=2,000 in 2018 n=2,070 in 2017/n=1,535 in 2016). Question A1 (multi code, prompted). Note (a) “Equity crowd funding platforms” in 2016
23. www.british-business-bank.co.uk
@britishbbank
23
Aware of who to approach for forms of external finance 2016-2018
Awareness of who to approach for specific products has also increased significantly
53%
33%
22%
21%
14%
6%
47%
25%
17%
17%
10%
5%
56%
22%
19%
18%
12%
5%
Leasing/hire purchase
Crowd funding platforms
(a)
Venture capitalists
P2P lending
Business angels
Mezzanine finance
2018
2017
2016
Base = all SMEs (n=2,000 in 2018 n=2,070 in 2017/n=1,535 in 2016). Question A2 (multi code, prompted). Note (a) “Equity crowd funding platforms” in 2016
24. www.british-business-bank.co.uk
@britishbbank
24
52%
42%
33%
30%
27%
20%
17%
6%
53%
31%
26%
21%
23%
21%
13%
5%
Leasing/hire purchase
Crowdfunding
IF/Factoring
Venture capitalists
Equity
P2P lending
Business angels
Mezzanine finance
London
Rest of UK
Awareness of who to approach for crowdfunding and venture capital is higher in
London than in many other regions
Base = all SMEs (Not London n=1,750, London n=250 in 2018). Question A1 (multi code, prompted). Question A2 (multi code, prompted). Note credit cards, government/LA grants, trade finance and
mezzanine finance not shown
Aware of who to approach
88%
61%
74%
73%
56%
55%
47%
11%
89%
63%
67%
69%
52%
52%
40%
13%
Leasing/hire purchase
Equity
Venture capitalists
Crowdfunding
IF/Factoring
P2P lending
Business angels
Mezzanine finance
Aware of finance type
26. www.british-business-bank.co.uk
@britishbbank
26
More SMEs are using credit card finance and leasing/hire purchase than in 2017
Base = All SMEs (n=2000 in 2018) Question A6a_AA (multi code, prompted). All SMEs that sought finance in the last three years (n= 913 in 2018) A11b (multi code, unprompted). Those
not shown less than 5% for both currently use or sought.
Finance currently use and sought on last occasion
36%
26%
15%
12%
9%
6%
6%
2%
1%
10%
17%
20%
3%
15%
4%
1%
5%
6%
Credit card finance
Bank overdraft
Leasing/hire purchase
Loans from directors
Bank loan
Family/friend loan
Equity from directors or friends or family
Loans from another individual/organisation
Something else
% Currently use
% Sought on last occasion
More are using credit cards and loans
from directors than in 2017
19% currently use loans or equity
from directors, family or friends
27. www.british-business-bank.co.uk
@britishbbank
27
Finance used in establishing business, if started in last two years – top mentions
Personal savings are by far the most commonly used source of finance to establish
a business
Base = all SMEs who started business in last two years (n=67 in 2018). Question A3 (multi code, prompted). Those not shown 1% or less.
86%
14%
9%
8%
7%
6%
5%
2%
Personal savings
Credit card
Director Loan
Family/friends - loan
Loan from bank/building
society/finance company
Family/friends - gift
Government/Local
government grant
Mortgage/re-mortgage on
home
28. www.british-business-bank.co.uk
@britishbbank
28
Sought external finance in the previous three years - by employee size and sector
Proportion seeking external finance in last three years is similar to 2017
41%
36%
54%
62%
71%
All
No employees
Micro (1-9)
Small (10-49)
Medium (50-249)
Base = all SMEs (n=2,000 in 2018). A6a (single code, prompted)
41%
52%
43%
39%
39%
38%
All
Production
Construction
Distribution
Business
services
Other
services
54%
micro SMEs
sought
external
finance in
2018,
compared
to 48%
in 2017
29. www.british-business-bank.co.uk
@britishbbank
29
Credit cards and commercial mortgages are most commonly sought from banks
Base = all SMEs who sought each form of non-bank finance (n=194 for credit cards/n=46 for commercial mortgage/n=57 for invoice finance or factoring/n=41 for loans from another individual/organisation/n=280
for leasing or hire purchase. Data not shown for finance categories with a base below 30. Question A6c (single code, prompted). “Don’t know” excluded from chart.
Seeking finance from bank vs. another source
1972
8866
42
35
22
11
25
51
65
76
Leasing or hire
purchase
Loans from
another individual
or organisation
Invoice finance or
factoring
Commercial
mortgage
Credit cards
% Another source% Bank % Don’t know/refused
30. www.british-business-bank.co.uk
@britishbbank
30
Main reason for seeking finance 2016-2018 - last occasion in last three years
Main reason for seeking finance is still for working capital or purchasing fixed assets
Base = all SMEs that sought finance in the last 3 years (n=913 in 2018/n=932 in 2017/n=886 in 2016), all SMEs seeking finance for working capital (n=375 in 2018, n=388 in 2017)
Question A13b (single code, prompted).
4%
1%
9%
33%
40%
3%3%
5%
34%
42%
3%4%
7%
36%
42%
Start businessRefinancingExpansionPurchase fixed
assets
Working
capital/cashflow
9% of SMEs sought external finance for expansion
in 2018, compared to 5% in 2017
2016 2017 2018
31. www.british-business-bank.co.uk
@britishbbank
31
Capital is most commonly sought for the general running of the business and to
cover a short term gap in funds
Most common reasons for seeking working capital
56%
37%
32%
24%
22%
16%
5%
To continue trading / for general running
of business
To cover a short term gap until funds
were received from customers
For flexibility / convenience
As a safety net just in case
To fund general growth
To cover a short term gap due to
unexpected expense
To fund export activity
Base = all SMEs seeking finance for working capital (n=375 in 2018, n=388 in 2017) Question A14 (multi code, prompted). Codes 1% or less not shown except ‘don’t know’ (8%).
All SMEs seeking finance for refinancing (n=34 in 2018), Question A15 (multi code, prompted).
Most common reasons
for seeking to re-finance
were to keep business
open or expand the
business (39%),
followed by an
attractive offer of
finance (27%)
32. www.british-business-bank.co.uk
@britishbbank
32
Base = all SMEs that sought finance in the last 3 years (n=913 in 2018), n=266 no employees, n=647 employees. Question A28/A29 (single code, prompted)
Amount of finance sought on last occasion by employee size
25
31
13
16
17
12
27
29
24
9
7
12
6
3
11
12
7
22
5
5
7
All SMEs
No
Employees
Employees
% Less than £5,000 % £5,000-£9,999
% £10,000-£24,999 % £25,000-£49,999
% £50,000-£99,999 % More than £100,000
% Don't know/Refused
Majority of SMEs sought less than £25,000 finance on the last occasion
2017
median
amount
£10,000
£6,000
£20,000
2018
median
amount
£10,000
£8,000
£20,000
33. www.british-business-bank.co.uk
@britishbbank
33
Researching finance types online now second most common step
Base = all SMEs that sought finance in the last 3 years (n=913 in 2018), n=932 in 2017. Question A19 (single code, unprompted). Those not shown 1% or less.
Who spoke to first when finance need identified
33%
14%
11%
6%
5%
4%
3%
3%
3%
2%
2%
2%
Went directly to main bank
Researched finance types on internet
Spoke to supplier/dealer/manufacturer
Sought advice from other businesses/friends
Went to finance provider other than bank
Spoke to accountant
Spoke to finance adviser
Spoke to board/directors/seniors
Looked into finance options
Used a credit card/overdraft/existing facilities
Examined expenses/cash flow/company accounts
Went directly to another bank
36% went
directly to main
bank in 2017
10% researched
online in 2017
Sole traders
(43%) and those
trading over 10
years (39%)
more likely to go
directly to their
bank
34. www.british-business-bank.co.uk
@britishbbank
34
Banks and finance providers are the top influencer on the decision of who to approach
Base = all SMEs who sought finance in the last three years (n=913 in 2018), Question A16 and Question A18 (multi code, unprompted). All who have sought more than one source of
information on decision on which type of finance to apply for (n=146 in 2018), Question A17 (single code, unprompted).
Sources of information that influenced decision
27%
24%
12%
7%
1%
19%
17%
20%
14%
8%
7%
11%
24%
29%
10%
4%
1%
21%
Self
Bank or finance provider
Internet
Advisor
Government
Other
% Influenced decision on
type of finance
% Main influence on type of
finance
% Influenced decision on
specific provider to approach
35. www.british-business-bank.co.uk
@britishbbank
35
Number of providers considered 2016-2018
Four in ten businesses considered more than one provider in 2018
Base = all SMEs who sought finance in the last 3 years (n=913 in 2018 n=932 in 2017/n=886 in 2016). Question A22 (single code, unprompted)
55
56
60
15
11
12
14
14
12
3
5
5
8
7
6
2
2
1
3
5
3
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
2018
2017
2016
% One % Two % Three % Four % Five+ % Don't know None
% considering
more than one
provider
40%
38%
35%
36. www.british-business-bank.co.uk
@britishbbank
36
Number of providers contacted 2012-2018
A majority of SMEs continue to contact one finance provider, although long-term
trends suggest a positive shift to more providers being contacted
Base = all SMEs that considered a provider of finance in the last 3 years* (n=848 in 2018 n=865 in 2017/n=886 in 2016/n=715 in 2015/n=325 in 2014/n=588 in 2012). Question A23
(single code, unprompted)
58
58
69
61
66
71
17
12
11
18
18
11
10
11
7
10
11
7
1
3
4
2
1
5
4
4
3
4
2
4
10
12
6
5
3
2
0 10 20 30 40 50 60 70 80 90 100
2018
2017
2016
2015
2014
2012
% One % Two % Three % Four % Five+ % Don't know/Refused/Other
Mean = 1.6
Mean = 1.7
Mean = 1.5
Mean = 1.7
Mean = 1.5
Mean = 1.7
37. www.british-business-bank.co.uk
@britishbbank
37
Having an existing relationship continues to be the most common reason for choosing
providers - fewer say the decision relates to the likelihood of obtaining finance
Base = all SMEs that sought external finance in the last 3 years (n=913 in 2018). Question A20 (multi code, unprompted). Those not shown less than 2%. Question A21 (single code,
prompted)
Reasons for choosing provider
41%
18%
13%
10%
9%
7%
5%
3%
3%
3%
2%
2%
2%
2%
2%
Existing provider/already have relationship
It was cheapest/most competitive in short or medium term
Ease of application (e.g. little paper work)
Trusted brand
Most suitable/appropriate for need
Long term costs/charges
Only option available/limited choice
Understanding/knowledge of our business
Customer service
Likelihood of successfully obtaining the finance
Speed of obtaining finance
Flexibility in drawing down and repaying money as needed
Short term servicing costs of finance
They were recommended
Terms and conditions (e.g. security required)
(7% in 2017)
Having an existing
provider continues
to be the most
common main
reason (36%)
38. www.british-business-bank.co.uk
@britishbbank
38
Base = all SMEs that contacted only one provider (n=469 in 2018, n=469). Question A26 (multi code, unprompted). Those not shown 1% or less.
Reasons for only approaching one provider on last occasion – top mentions
49%
14%
12%
11%
7%
5%
4%
2%
2%
Had an established relationship with that
provider
Cost/rates offered/best deal
Too much hassle contacting more than one
provider
They were my only/most obvious option
First one gave/had what I wanted
Only one available
Had type of finance I wanted
Too little time/needed finance quickly
High likelihood of successful application
Having a longstanding
relationship was also the
most common reason last
year (55%)
Having an established relationship is the most common reason for contacting only
one provider
39. www.british-business-bank.co.uk
@britishbbank
39
39
50
58
46
3
4
Half of SMEs contact providers other than the ‘big five’ banks when seeking finance
Base = all SMEs (n=2,000 in 2018); employers n=647, no employees n=266; Production n=188, Construction n=153, Distribution n=198, Business services n=252, Other services n=122. A25
(single code, unprompted). Note question changed since 2017 to include Santander in ‘big five’ banks.
Was finance sought from any of the five largest UK banks
50%46%
4%
Only sought
finance from
one of the five
main UK
banks
Contacted
other finance
providers
Employers
No employees
38
51
53
50
33
60
46
46
47
59
2
3
1
3
8
Production
Construction
Distribution
Business services
Other services
Other finance providersBanks only
Don’t know
Don’t know
40. www.british-business-bank.co.uk
@britishbbank
40
Base = all SMEs that sought finance in the last 3 years (n= 913 in 2018 /n=932 in 2017/ n=886 in 2016/n= 715 in 2015/n=325 in 2014/n=588 in 2012). Question A30 (single code,
prompted). *Note question wording changes since 2016
Whether successful in obtaining finance from first provider 2012-2018
82
81
84
71
79
72
3
5
6
10
8
5
2
2
1
5
3
4
9
8
7
9
6
13
2
3
1
5
3
4
2
3
1
1
2
2
2018
2017
2016
2015
2014
2012
% Offered all % Offered smaller amount % Decided not to continue/Rejected offer % Turned down % Other % Don't know/Refused
Offered any finance
2016 = 90%
2015 = 86%
2014 = 90%
2012 = 81%
2017 = 86%
2018 = 85%*
Around nine in ten get all or almost all the finance required from first provider
41. www.british-business-bank.co.uk
@britishbbank
41
89%
85%
78%
83%82% 82%83%
87%
79%81%
89%89%86%
82%84%
Medium (50-
249)
Small (10-49)Micros (1-9)No employeesAll SMEs
Success rates similar to 2017 overall, despite a significant fall for micro businesses
Base = all SMEs that sought external finance in the last 3 years (n=913 in 2018, n=932 in 2017/n=886 in 2016; 2018: no employees n=266/micros n=324/small n=187/medium n=136).
Question A30 (single code, prompted)
Successful getting all finance – by size of business 2016-2018
2016 2017 2018
43. www.british-business-bank.co.uk
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43
Base = All SMEs with bank loan or commercial mortgage as most recent finance type (n=143 in 2018/ n=152 in 2016). A33 (Single code, prompted)
Whether bank loan/mortgage obtained was for the same tenor period requested
2016
2018
Slight increase in SMEs granted bank loans/mortgages for the tenor period requested
83
93
7
3
6
4
3
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Yes No - longer period No - shorter period Don't know
44. www.british-business-bank.co.uk
@britishbbank
44
Whether security was required for loan, types of security required and value as share of total loan
1%
1%
1%
2%
3%
13%
16%
23%
35%
Equipment or vehicles
Floating charge
Intellectual property or other “knowledge
assets”
Stock or debtors
Another type of security
Mixed property
Business property
Other personal assets
Directors or personal guarantee, or
personal property
For around a quarter of SMEs security was required for the loan, most commonly
director or personal guarantee
Base = all SMEs offered loan in their recent application (n=116 in 2018) Question A35b. All SMEs providing security for loan (n=43) Question A35c (multi-code, prompted). All SMEs
providing security for loan (n=43), Question A35d (single code, prompted).
27%
73%
Yes
No
Was security required? Types of security required
The most common value for
security as a percentage of the
total loan provided was 25% or
less (47%). Only 15% said it was
76%-100% of the value, and 8%
over 100% of the value
45. www.british-business-bank.co.uk
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Base = offered smaller amount/worse terms/turned down/didn’t accept finance (n= 87 in 2018). Question A32 (single code, prompted).
What was done next if not offered full amount
30%
19%
14%
13%
12%
2%
8%
1%
Give up/cancel plans
Put plans for finance on hold
Accepted the finance
Talk to another provider
Talk to them to try to negotiate a new or better finance
facility with them
Use an existing form of borrowing to replace some or all of
the finance
Other
Don’t know
Increase in those giving up or cancelling plans when not receiving all finance required
49% either gave up,
cancelled plans or put
plans for finance on hold
46. www.british-business-bank.co.uk
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46
Base = all SMEs that sought finance in the last 3 years (n= 913 in 2018, n=932 in 2017/n=886 in 2016), Base = all for whom experience of raising finance was worse than expected
(n=130 in 2018). Question A37 (single code, unprompted), A38 (multi code, unprompted). Top five answers shown only for why it was worse.
19%/17%
26%/13%
19%/15%
8
12
9
11
14
9
61
58
64
9
6
4
8
7
10
2
3
2
2018
2017
2016
% Significantly better % Slightly better
% Matched expectations % Slightly worse
% Significantly worse % Don't know/Refused
26%
20%
18%
14%
14%
Application took too long
Poor customer service
Rejected or not
accepted for finance
Strict terms and
conditions
Too much paperwork
Applications taking too long overtakes poor customer experience as the top reason
for dissatisfaction
Better/ worse
Experience of raising finance vs. expectations
2016-2018
Why worse than expected
2018
47. www.british-business-bank.co.uk
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Base = all SMEs that sought finance in the last 3 years from big five bank (n= 378 in 2018) or other provider (n=510 in 2018). Base = all for whom experience of raising finance was
worse than expected and sought finance from big five bank (n=70 in 2018) or other provider (n=46 in 2018). Question A37 (single code, prompted), A38 (multi code, unprompted).
15%/21%
24%/13%
6
11
9
13
62
62
10
7
11
6
2
1
Big five
banks
only
Other
finance
providers
% Significantly better % Slightly better
% Matched expectations % Slightly worse
% Significantly worse % Don't know/Refused
31%
20%
20%
16%
13%
12%
12%
8%
7%
23%
23%
8%
6%
19%
15%
7%
14%
12%
Application took too long
Poor customer service
Strict terms and conditions
General difficulties obtaining
finance
Too much paperwork
Rejected or not accepted for
finance
Lack of help support
Provider didn't understand
my business
High cost
Experience of raising finance from big five banks more likely than other finance
providers not to meet expectations
Better/ worse
Experience of raising finance vs. expectations Big
five banks vs. other providers
Why worse than expected
Other finance providersBig five banks only
48. www.british-business-bank.co.uk
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48
18% of SMEs sought external advice, with half of these going to their accountant
Base = all SMEs that sought finance in the last 3 years (n=913 in 2018, n=932 in 2017). A36 (multi code, unprompted)
Sought external advice when applying for finance on last occasion
9%
3%
3%
2%
2%
1%
1%
Accountant
Solicitor
Friends and family
Finacial advisor
Other
Business mentor
Don't know/refused
81% sought no advice
(same as 2017)
49. www.british-business-bank.co.uk
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49
22%
16%
18%18%18%
22%
27%
21%
15%
18%
15%
19%
17%
11%
13%
Medium (50-249)Small (10-49)Micro (1-9)No employeesAll
Proportion of SMEs using advice when seeking finance generally in line with 2017 but
falls significantly for businesses with 10-49 employees
Base = all SMEs that sought finance in the last 3 years (n=913 in 2018/n=932 in 2017/2016=886). A36 (multi code, unprompted).
*Note this is a net variable generated from use of at least one source of advice on the last occasion.
Sought external advice when applying for finance on last occasion* - 2016-2018 –
by employee size
2016 2017 2018
50. www.british-business-bank.co.uk
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24 23 21 30 3
% Very likely % Fairly likely
% Not very likely % Not at all likely
% Don't know/Refused/It depends
Likelihood of seeking external advice if had difficulties obtaining finance
More SMEs are ‘very likely’ to seek external advice if they needed finance in the
future compared with 2017
Base = all SMEs (n=2,000 in 2018); Question B3ii (single code, prompted). Base: All SMEs likely to seek external advice for external finance in the future (n=956); Question D6 in 2017.
Likely
47%
Unlikely
50%
Sole traders are less likely to seek
external advice than SMEs with
employees (52% unlikely vs. 46%)
Half of those likely to seek advice say they are likely to pay for
independent advice to help them obtain this finance (47%)
52. www.british-business-bank.co.uk
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Confidence in ability to raise finance
Improvement in confidence in assessing finance products offered by other providers
Base = all SMEs (n=2,000 in 2018). Question A4 (single code, prompted).
30
19
20
39
35
34
12
14
14
8
15
12
8
13
15
2
3
5
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Assessing finance products offered by
own bank
Assessing finance products offered by
other providers
Applying for external finance
% Very confident % Somewhat confident % Neither confident nor unconfident
% Somewhat unconfident % Not at all confident % Don't know/Refused
Confident
2017/2018
67%/69%
49%/54%
50%/54%
53. www.british-business-bank.co.uk
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Base = all SMEs (n=2,000 in 2018). A5 (single code, prompted)
Views on information provision, finance providers and banks
26
12
8
13
38
35
14
19
13
21
7
12
13
18
31
27
6
8
37
20
2
7
3
9
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
I know where to obtain information on the types of finance
and specific providers available
Providers give sufficient information about products for me
to judge their suitability
Banks are generally the only source of finance available to
smaller businesses
All banks are the same in the way they treat smaller
businesses
% Strongly agree % Tend to agree % Neither agree nor disagree
% Tend to disagree % Strongly disagree % Don't know
Around two-thirds are confident they know where to obtain information on the types
of finance and specific providers available
54. www.british-business-bank.co.uk
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Around three in ten SMEs still see moving banks as difficult
Base = all SMEs (n=2,000 in 2018). Question A5b (single code, prompted)
Ease of moving banks
17 39 11 21 7 4
0 10 20 30 40 50 60 70 80 90 100
Very easy Fairly easy % Neither/nor Fairly difficult Very difficult % Don't know/Refused
Easy/
difficult
56%/29%
Ease of moving
business
banking needs
to another bank
56. www.british-business-bank.co.uk
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Forms of finance considering applying for in next 3 months
Base = all SMEs (n=2,000 in 2018, n=2,070 in 2017). B3i (multi code, prompted). Note: Trust/charity funding, Invoice finance or factoring (asset based), commercial mortgage, equity finance
and peer to peer lending all 1%.
4%
4%
3%
3%
2%
2%
2%
2%
2%
Leasing/HP
Government/Local government grants
Bank overdraft
Bank loan
Credit card finance
Loans from directors
Loans from family/friend
Private lending / finance company
Crowd funding platform
83% do not expect to
apply for any finance in the
next three months
Fewer SMEs are seeking
credit card finance than in
2017
15% expect to apply for at least one external finance product in the next three
months
(4% in 2017)
58. www.british-business-bank.co.uk
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Three-quarters of those not using equity finance have not considered it
Base = all SMEs aware of alternative finance forms and not using/sought (n=1,182 for equity finance in 2018, n=1,245 in 2017). Question A6d_A (multi code, prompted). Note (a) new
code for 2018. Answer codes changed in 2018 questionnaire.
Considering or have applied for equity finance
10%
18%
You have considered equity finance but
have not applied (a)
You would consider applying for equity
finance in future
75% of firms aware of, but not
currently using equity, have neither
considered nor would consider using it
9%
12%
13%
11%
17%
20%
17%
21%
No employees
Micro (1-9 employees)
Small (10-49 employees)
Medium (50-249 employees)
% You have considered but have not applied
% Would consider applying in future
59. www.british-business-bank.co.uk
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Base = all SMEs that have sought equity finance in the last 3 years (n=96 in 2018). Question A7 (multi code, prompted)
Where sought equity finance from
30%
12%
12%
12%
12%
9%
6%
16%
A member of family or a friend
Any other third party organisation or another business
Within your business
A Venture Capitalist/VC
A Business Angel
Another provider of equity finance
A crowd funding platform
Don't know/Refused
Family members/friends most common source of equity, though over half used
other sources
60. www.british-business-bank.co.uk
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Base = All who applied for or have considered raising equity finance (n=403 in 2018). Question A9a (multi code, prompted). Note: different base to 2017.
Barriers to equity finance
62%
58%
47%
43%
42%
6%
8%
Reluctant to give up any control of the
business
Difficulties finding an investor who shares the
firm’s aims and objectives
Think the focus of investors is too short term
Difficulties in putting together the business
value proposition
Deciding on its suitability for raising finance
Something else
None of these
Giving up control and finding a suitable investor are the most common barriers
61. www.british-business-bank.co.uk
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Views of those who've not considered equity finance
64%
42%
34%
32%
28%
27%
2%
Our ownership structure means equity finance is not
appropriate/relevant
I don’t think the value of a share in our business would
be attractive to investors
I wouldn’t know where to start to look for investors /
where to obtain investment
I don’t really know anything about this form of finance
I wouldn’t know how to put together a business value
proposition
I don’t have the time to look into this form of finance
Something else
Base = all SMEs that are aware of equity and did not seek equity (n=868 in 2018) Question A9b (multi code, prompted). Note: different base to 2017.
Ownership structure is most common reason for not considering equity finance
63. www.british-business-bank.co.uk
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Giving and receiving trade credit
Around a third of SMEs offer trade credit to customers or receive trade credit
Base = all SMEs that give their customers trade credit (n=1,126 in 2018), all SMEs (n=2,000 in 2018). Question D1 (single code, prompted).
33%
66%
1%
Don’t know/ Refused
No
Yes
34%
65%
1%
Don’t know/ Refused
No
Yes
Give trade credit to customers Receive trade credit
64. www.british-business-bank.co.uk
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64
25 45 12 10 4 31
0% - All payments are on time Less than 20% 20-39% 40-59% 60-79% 80% or more Don't know
What percentage of payments, if any, from your business customers are typically late (i.e.
beyond the terms of the invoice)?
One-quarter of firms with B2B sales report all payments are received on time
Base: All SMEs with at least some B2B sales (n=1,283 in 2018) Question D8 (single code, prompted). New question in 2018.
65. www.british-business-bank.co.uk
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At least two in five SMEs report average delay in payment of at least one month for
invoices and trade credit
Base = all SMEs reporting late payment of invoices by business customers (n=1,017 in 2018), Question D9a. All SMEs who offer trade credit (n=457 in 2018) Question D9b (single code,
prompted). Not asked in 2017.
Average delay in payment
20%
36%
34%
6%
3%
20%
30%
37%
6%
1%
Less than two weeks
Two weeks to one month
Between one and three months
Between three and six months
Six months or more
Normal invoice (among SMEs
reporting late payment of invoices
by business customers
Trade credit (among all SMEs
who offer trade credit)
66. www.british-business-bank.co.uk
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Impact of late payments on the business
Cash flow issues are the most commonly suffered consequence of late payments,
being experienced by a third of SMEs reporting late payments
Base: All SMEs reporting late payment of invoices by business customers (n=1,017) Question D10 (multi code, unprompted). New question in 2018.
2%3%3%4%
7%
29%
Slower
turnover
growth
I have
been
forced to
use an
overdraft
facility
Emotional
impacts /
stress /
frustration
Late
paying
suppliers
I/we have
spent lots
of time
chasing
late
payments
My
business
has run
into cash
flow
difficulties
33%
9%
5%
4%
4%
1%
1%
Cash flow
Resources
Growth / profit
Borrowing
Personal Impact
Staff
Investment
Top Mentions
Mentions by category 51% report no impacts on the
business of late payment
67. www.british-business-bank.co.uk
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Actions taken to try and minimise the impact of late payments
Chasing debtors by phone or email is by far the most common action taken in
response to late payments, whilst a quarter take up preventative measures
Base: All SMEs for whom a late payment has had an impact (n=495 in 2018) Question D11 (multi code, unprompted). New question in 2018.
36%
8% 6% 6% 5% 5%
Constant
reminding
(phone /
email)
Suspended
new
business to
late payers
Writing to
debtors
Ask for
upfront
payment /
deposits
Better /
improved
payment
plan / term
Stricter
policies /
adjusting
T&Cs or
method of
payment
41%
26%
22%
3%
Debt recovery
Preventative
measures
Credit reduction
Outsourcing
measures
Top Mentions
Mentions by category
69. www.british-business-bank.co.uk
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• Growth of business turnover and expectations for future trading
conditions remain broadly in line with those seen in 2017
• There is a small but significant jump in the percentage of SMEs
aiming to grow substantially in 2019
• Compared with 2017, more firms report leaving the EU has
negatively impacted growth and sales expectations and also
anticipate difficulties in obtaining debt and equity
• A majority (62%) say that Brexit has not and do not expect it to
have an effect on sales in the next 12 months
• Around a third (32%) report that Brexit has affected or will
affect sales, and of these, 80% report a negative effect
Summary - 1
70. www.british-business-bank.co.uk
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• Encouragingly, awareness of almost all forms of finance, and
specific providers, has increased since 2017
• More SMEs are using credit card finance and loans from directors
than in 2017, suggesting that personal finance continues to play
a strong role in SMEs financial repertoire
• The proportion of firms seeking external finance are generally in
line with those seen in 2017, although there is an increase in the
number of micro organisations doing so
Summary - 2
71. www.british-business-bank.co.uk
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• A majority of SMEs continue to consider one finance provider,
although long-term trends do suggest some positive shifts towards
SMEs considering a greater number of providers
• Encouragingly, more SMEs say they are very likely to seek
external advice if they experience difficulties obtaining finance
than in 2017 though less than half, of these, are likely to pay for it
• Among those aware of equity finance, there is a significant
increase in the proportion of SMEs who have considered it but not
applied for it
• Three top barriers to equity are: reluctance to give up control of
the firm, difficulties finding an investor who shares the firm’s aims
and objectives, and the perceived short-term focus of investors
Summary - 3
72. www.british-business-bank.co.uk
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• Confidence in the ability to raise finance, as well as views on
banks and finance in general, generally remain in line with 2017
levels
• There appears to be a decline in distrust towards providers as a
reason for not applying for finance, while debt aversion remains
the top reason for discouragement
• SMEs with B2B sales report just 25% of payments are received
on time. Firms report two in five late payments received are one
month or more in arrears
Summary - 4
73. www.british-business-bank.co.uk
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• Whilst over half report no negative impact on the business of
late payments, the most common is cash flow issues (reported
by a third of SMEs)
• In terms of actions taken to minimise the impact of later
payments, debt recovery appears to take precedence over
preventative measures (41% and 26% respectively among SMEs
for whom a late payment has had an impact)
Summary - 5
74. www.british-business-bank.co.uk
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subsidiaries as to the completeness or accuracy of any facts or opinions contained in this
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accounting or regulatory advice before making any decision based on the information
contained herein.
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registration number 08616013, registered office at Steel City House, West Street,
Sheffield, S1 2GQ. As the holding company of the group operating under the trading
name of British Business Bank, it is a development bank wholly owned by HM
Government which is not authorised or regulated by the Prudential Regulation
Authority (PRA) or the Financial Conduct Authority (FCA).
It operates under its own trading name through a number of subsidiaries, one of which
is authorised and regulated by the FCA. British Business Bank plc and its subsidiary
entities are not banking institutions and do not operate as such.
A complete legal structure chart for British Business Bank plc and its subsidiaries
can be found at www.british-business-bank.co.uk.