www.british-business-bank.co.uk
@britishbbank
2017 Business Finance
Survey: SMEs
A report by Ipsos MORI to
the British Business Bank
February 2018
www.british-business-bank.co.uk
Slide 2
Contents
Background and methodology slide 3
Awareness of different types of finance slide 5
Finance use and application slide 10
Alternative finance slide 34
Trade credit slide 39
Perceptions of raising finance and future use slide 43
Growth slide 49
Leaving the EU slide 53
Summing up slide 61
www.british-business-bank.co.uk
Slide 3
Survey Methodology
2,070 CATI interviews conducted between 30th August and 7th
November 2017 with average interview length of 25 minutes
SMEs defined as businesses having 0 to 249 employees
Quotas set by employment size, sector and region
Interviews with person responsible for managing business finances
Data weighted to BEIS's Business Population Estimates 2016 (BPE)
by size and sector:
855 with no employees interviewed (weighted to 76%)
700 micros (1-9) interviewed (weighted to 20%)
331 small (10-49) interviewed (weighted to 4%)
184 medium (50-249) interviewed (weighted to 1%)
Findings labelled by an asterisk mean less than half a per cent but
not zero
www.british-business-bank.co.uk
Slide 4
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)
Survey was repeated in 2014 (1,000 SMEs interviewed), in
2015 (1,608 SMEs) and 2016 (1,535 SMEs)
2017 survey is based on 2,070 interviews with SMEs. Some
new questions were added, but core questions remain the
same enabling comparison over time
Statistically significant changes between the 2016 and 2017
surveys (at 95% confidence level) are identified by circles
(increases) and squares (decreases)
Awareness of different
types of finance
www.british-business-bank.co.uk
Slide 6
86%
62%
60%
53%
47%
32%
88%
64%
51%
53%
45%
38%
86%
60%
49%
54%
40%
38%
85%
55%
32%
53%