Why are SMEs missing out on business finance?

According to a new study from Aviva, a third of 1500 companies did not know the term of alternative finance and were unaware of it being a viable option for funding their business. The awareness of alternative finance are low, particularly with sole traders, with 80% admitting they did not understand. To read more on the research, please visit http://www.aviva.com/media/news/item/whats-the-alternative-smes-miss-out-on-new-funding-options-17341/#.VAgaJ2VxV2M.twitter

The growth of businesses is essential for the British economy and with nearly a third of all SMEs raising funds for the second half of 2014 it is essential businesses do not miss out on funding. They need to be aware of alternative methods in order for them to grow. The Head of Small Businesses at Aviva, Robert Lodger has said “With the rise of alternative finance options and increasing media focus on schemes such as crowdfunding and peer-to-peer lending, it’s important for small businesses to understand that there are a variety of options open to them outside of traditional finance methods, designed to suit differing business needs.”

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