Use of external finance overall is recovering
46%
of smaller businesses across the UK used external finance in 2023, a 10 percentage point increase from the previous year
11
out of the 12 UK Nations and regions recorded an uptick in use of small business finance
Nearly 1 in 5 smaller businesses
(17%) used credit cards, the most popular finance type in 2023
61%
of smaller businesses viewed current trading conditions as presenting more threats than opportunities
Equity finance decline shows signs of stabilisation
25%
of businesses in the UK’s most deprived areas have an ambition to be significantly larger, compared to 40% elsewhere
7%
increase in UK equity deals in Q1 2024 from Q1 2023, suggesting the decline in activity is stabilising
British Business Bank remains committed to helping to reduce regional imbalances
£388 million in funding
has been provided through the Bank’s geographically focused funds in 2023
£441 million in investment
has been facilitated by the Bank’s Regional Angels Programme in the same period.