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.
The survey, conducted in the Autumn of 2017, includes new questions on trade credit, an important source of finance used by more than half of SMEs. Finally, the survey results highlight that majority of SMEs expect no impact from the UK leaving the EU and that have neither made nor expect to make changes as a result of leaving the EU.
- British Business Bank’s 2017/18 Small Business Finance Markets Report
- Official press release and key highlights for the 2017/18 Small Business Finance Markets Report
- 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
Is there a real threat of a finance sector “Brexodus”?
Will the Banking & Finance Sector exit Britain post-Brexit, and what would be the consequences?
Ipsos MORI’s latest research among MPs, Business Journalists and the General Public provides warning signals in terms of perceived likelihood of the financial sector moving from the UK to the EU, and highlights the serious consequences for any banks relocating abroad.