To explain the range of government-supported finance schemes, we invited Department for Business, Innovation and Skills (BIS) access to finance guru Andrew Vanderlem to Real Business Funding. Vanderlem leads the team responsible for BIS’s policies and programmes promoting access to finance to small and medium-sized firms. These include loan guarantee programmes that support £2bn of new lending to UK firms as well as Europe’s largest and most developed programme to support the venture capital industry.
Download this superb, definitive guide to government access to finance schemes.
SME lending, says Vanderlem, peaked in mid-2009 and has been falling ever since. The steepest decline took place in 2009 and 2010. Small and mid-sized UK firms are today net lenders to the banks.
However, like other contributors at Real Business Funding, Vanderlem shows a complex picture in UK business lending. Many UK businesses, for example, are discouraged from even approaching their banks, rather than being actually turned down.
See Andrew Vanderlem’s full presentation by flicking through the pages.