A NEW confederation of British
Industry survey has shown SME
optimism has improved in the past
three months. But how do we turn this
confidence into growth? The answer is
alternative finance.
The rise of alternative finance has
been spectacular – the crowdfunding
sector is growing at over 400 per cent
per year, invoice finance use has
reached record levels and peer-topeer
lending in the UK stands at over
£3bn – but there needs to be more, and
raising awareness of these services is
a key part of the growth stage.
The government is embracing
alternative finance to a degree, such
as through the British Business
Bank (british-business-bank.co.uk)and
so are traditional banks, some of
which are recommending alternative
finance providers to SMEs that fail
their lending criteria. However, this
needs more impetus if small business
owners are going to benefit from the
full range of lending options available
to them and the much-highlighted
optimism is to be turned into growth.
The announcement of the UK’s first
small business funding exhibition,
the Business Funding Show
(businessfundingshow.com) demonstrates
this goal is being worked towards.
The exhibition will take place in
London in February and its aim is
to connect entrepreneurs and small
businesses with key finance providers.
The event has been backed by
Innocent Drinks co-founder Richard
Reed. The show will hopefully act
as a catalyst for other initiatives to
promote the availability of alternative
finance services.
On Friday, September 25, Worthing
and Adur Chamber will be hosting
a Networking Breakfast to discuss
funding opportunities, alternative
finance and support available in these
areas. Come along and join us at Field
Place, Worthing for what promises
to be an interesting, informative and
valuable meeting. To book, please visit
www.worthingandadurchamber.co.uk
Written by Tony Hedger, A&T Business Associates