Alternative Finance Survey – SME Results

by | Nov 11, 2016 | CODE Investing News, Small Business News

Found this post useful? Share it

Alternative Finance Survey Results: Small & Medium Businesses. We take a look at what SMEs have to say about getting funding to expand their business.

Alternative Finance survey

We recently conducted a survey of all our subscribers, both investors and small business owners to find out their thoughts on alternative finance.

A big thank you to all of you who took part, it gave us some interesting results. This week we share some of the feedback we received from SMEs:

What industry sector is your business in?

SME business sectors

 

 

 

Most of the SMEs involved in our survey told us their business is involved in Fintech, closely followed by Property and Education.

When seeking a business loan which of the following would you consider: Bank loan, friends and family, or P2P lending/alternative finance?

Alternative finance, banking , friends & family

The majority, a resounding 76% of SMEs told us they would consider raising funds via P2P or alternative lending means. Most SMEs we questioned are very aware of the altfin funding sector, with only 7% saying that they knew little or nothing.

 

How much do you know about different types of alternative finance providers?

alternative finance providers38% told us that have raised funds using alternative finance methods in the past, but over 60% had never raised via alternative finance at all.

 What is the most important consideration for you when seeking a loan for your business?

altfin loans

We also asked business owners what was most important to them when looking for business loans, the two main concerns were interest rates and payment terms.

Thank you again to all of you who took part

The survey has helped us get a clearer picture of our SME’s knowledge and understanding of the alternative finance sector. It’s also given us a greater appreciation of the way you wish to raise funds, be it via debt, equity, convertible debt or a combination of methods.

Next week, we’ll follow up with a look at what our investors have to say about investing in UK SMEs businesses via alternative finance.

Found this post useful? Share it