How medium-sized businesses access finance – lessons for tomorrow’s medium-sized businesses

[standfirst]Access to finance is a key determinant for growth for medium-sized businesses. These businesses make a significant contribution to the economy, yet they have very different needs and challenges with regard to financing compared to micro and small firms.[/standfirst] This report presents the findings of a survey conducted by Ipsos MORI for the British Business Bank to investigate issues around the use of finance by medium-sized businesses and to identify lessons for the medium-sized businesses of tomorrow. The survey reveals that medium-sized businesses are far more sophisticated in their approach to using financing. Instead of relying purely on traditional forms of bank finance, they use a wide range of financing sources depending on what they are seeking to fund. This includes trade credit (59%) and leasing and hire purchase. The survey also reveals that most businesses (79%) do not seek third party advice when accessing finance. They are more likely to shop around when seeking a loan. Over 30% went to another bank or financial institution when seeking their loan. Lessons for tomorrow's medium-sized businesses - full report Lessons for tomorrow's medium-sized businesses - phase 1 qualitative report

The British Business Bank uses research and analysis to design, improve and create new solutions to make finance markets work better

We regularly evaluate our interventions to ensure that they continue to address effectively market weaknesses.

Our latest research

Future Fund: Breakthrough Process Evaluation and Early Impact Assessment

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RLS 1.0 Evaluation Report 2024

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UK Venture Capital Financial Returns 2023

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BBLS, CBILS, and CLBILS Evaluation Report 2023

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Nations and Regions Tracker 2023

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Equity Tracker 2023

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UK Venture Capital Financial Returns 2022

The UK Venture Capital Financial Returns 2021 report provides a comprehensive assessment of the performance of UK VC funds since 2002, as well as providing comparisons to the US and the rest of Europe.

UK Venture Capital Financial Returns 2021

The UK Venture Capital Financial Returns 2021 report provides a comprehensive assessment of the performance of UK VC funds since 2002, as well as providing comparisons to the US and the rest of Europe.

Smaller businesses and the transition to net zero

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UK Private Debt Research Report 2020

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UK Venture Capital Financial Returns 2020

The UK Venture Capital Financial Returns 2020 report provides a comprehensive assessment of the performance of UK VC funds since 2002, and an overview of the current VC market, in light of Covid-19.

Alone together: Entrepreneurship and diversity in the UK

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UK Business Angels Market Report 2020

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UK SME exporting trends: finance and trade

This research on UK SME exporters, finance and trade is published in partnership with Department of Business, Energy and Industrial Strategy (BEIS), UK Export Finance (UKEF) and the Department for International Trade (DIT). It seeks to understand the attitudes, experiences and behaviours of SME exporters towards key aspects of international sales – both opportunities and barriers – and the role that access to finance plays.

The Future of Defined Contribution Pensions

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VC and Female Founders 2018 research

The British Business Bank, Diversity VC and BVCA are joining forces on an industry-wide initiative to build the first clear picture of the representation of women, and diversity more broadly, in the pipelines of UK VC firms. Funds are invited to make contact to share their anonymous data.

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Going Digital: The Challenges Facing European SMEs – European SME Survey 2019

A joint study from Bpifrance, France; KfW, Germany; Bank Gospodarstwa Krajowego (BGK), Poland; Instituto de Crédito Oficial (ICO), Spain and the British Business, UK on the digital transformation of SMEs in France, Germany, Poland, Spain and the United Kingdom.

Small Business Finance Markets report 2024

Small Business Finance Markets report 2023

Small Business Finance Markets report 2022

Small Business Finance Markets report 2021

Small Business Finance Markets report 2020

Small Business Finance Markets report 2019

Small Business Finance Markets report 2018

Small Business Finance Markets report 2017

Small Business Finance Markets report 2016

Analysis of the UK Smaller Business Growth Loans Market – March 2015

Small Business Finance Markets report 2014

SME Journey Towards Raising Finance 2014 Survey


This report provides an in-depth assessment of equity markets for small businesses.

Equity Tracker 2022

Equity Tracker 2021

Equity Tracker 2020

Equity Tracker 2019

Equity Tracker 2018

Equity Tracker 2017

Equity Tracker 2016

Equity Tracker 2015

About our Evaluations

Future Fund: Breakthrough process evaluation and early impact assessment report 2024

RLS 1.0 evaluation report 2024

BBLS, CBILS, CLBILS Year 2 evaluation report

Future Fund early assessment report 2023

BPC interim evaluation report

MEIF evaluation report

CIOSIF evaluation report

Future Fund early assessment report 2022

BBLS, CBILS and CLBILS Process evaluation and early impact assessment 2022

NPIF interim evaluation report – April 2022

ECF interim evaluation report 2021

CIOSIF early assessment report – July 2020

MEIF early assessment report – May 2020

NPIF early assessment report – July 2019

Evaluation of Start Up Loans programme Year 3 report – June 2019

VC Catalyst early assessment report – November 2017

Economic Evaluation of the Enterprise Finance Guarantee – November 2017

Evaluation of Start Up Loans programme Year 2 report – October 2017

Evaluation of Start Up Loans programme Year 2 report – October 2017

Enterprise Finance Guarantee Strategic and Operational Design Review

Evaluation of Start Up Loans Year 1 report – March 2016

Trade Credit Enterprise Finance Guarantee Pilot Evaluation and Response – February 2015

Mid-term review of Northern JEREMIEs – November 2013

Aggregate Equity Scheme Data – July 2013

Economic Evaluation of the Enterprise Finance Guarantee – February 2013

Overview of publicly backed venture capital and loan funds in the UK final – January 2012


How Medium-sized Businesses Access Finance: Lessons for tomorrow’s medium-sized businesses

British Business Bank report on SME journey to raising finance

The Benefits of Diverse Smaller Business Finance Markets


Small Business Finance Markets update July 2020

Small Business Finance Markets update April 2020

Analysis of UK VC Financial Returns report

UK Business Angels Market Report 2018

Internationalisation of European SMEs 2018

UK Business Angels Market Report 2018

Small and Medium Sized Enterprise Securitisation (2015)

The Sustainability of Community Development Finance Institutions (2015)

Building Momentum in VC across Europe

BIS 2012 Small Business Survey (2013)

BVCA European Venture Capital: Myths and Facts (2013)


The SME Finance Monitor provides comprehensive information on bank lending to smaller firms.

As part of the programme to establish the British Business Bank, we asked the National Institute of Economic and Social Research (NIESR) to analyse the data in the SME finance monitor to help inform our thinking.

The BVCA produces numerous reports and publications about the early stage venture capital market in the UK