A poll commissioned by the British Business Bank (BBB) has revealed that one in three UK business owners want to grow their business but are unsure how.
Often, smaller businesses want to grow but just don’t consider, or know of, the alternative finance options available to them. The new polling reveals, for example, that only 5% of businesses have considered angel investment whilst only 7% have considered crowdfunding.
It is also revealing that older owners, in particular, are often unaware of the alternative finance options available to them. According to the BBB survey, one in twenty (3%) over-35s, for example, have considered crowdfunding compared to one in five (19%) millennials (under-35s).
On a positive note, the research found that business confidence is high amongst those surveyed, with more than half (51%) of business owners surveyed saying they expect to increase their income/turnover in the next financial year, with fewer than one in ten (8%) expecting their income/turnover to decrease.
If you would like to read the survey press release in full, please click here.
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