60%
Challenger and specialist banks accounted for 60% of all lending drawn from banks in 2024.
£37.3bn
of lending to smaller businesses by challenger and specialist banks in 2024, 8% higher than in 2023.
59%
of total gross lending in 2023 provided by challenger and specialist banks, exceeding the big five banks for the third consecutive year.
+7%
The value of equity investment in smaller businesses increased to £6.9bn in the first three quarters of 2024, up 7% on the same period in 2023.
£10.4bn
The value of exits of venture capital-backed companies in 2024 doubled from £5.2bn in 2023.
41%
of smaller businesses used finance in Q2 2024, down from 50% in Q3 2023.
£23.5bn
of asset finance to smaller businesses in 2024, increasing for the fourth year in a row.
£12.3bn
Total estimated investment by smaller businesses in 2024.
0.8%
increase in the level of smaller business investment compared to 2023.
53%
of smaller businesses are prioritising environmental sustainability in the next 12 months, up from 50% in 2023.
71%
of smaller businesses have undertaken at least one action to become more environmentally sustainable.
67%
of Ethnic Minority-led businesses have a long-term ambition to be significantly bigger, compared to 38% of White-led businesses.
45%
of Ethnic Minority-led businesses are willing to use external finance to help their business grow, compared to 31% of White-led businesses.