Many small firms in the UK face challenges when it comes to finding and applying for funding, according to a report published by the Federation of Small Businesses (FSB).

The FSB’s report found that ‘widespread uncertainty’ exists among small businesses in regard to where to get information on the types of finance available to them.

Two-thirds of small firms stated that they are planning to make some form of investment in their business by 2024. However, only 49% said that they have information on the different types of financing options available to them.

The FSB has urged the government to ‘take action to improve the financing landscape for small businesses’. It recommends introducing a VAT-based capital investment incentive, encouraging the use of the Bank Referral Scheme, and expanding the Start Up Loans Scheme from 11,000 to 15,000 loans per year.

If you would like to talk about your small or medium-sized enterprise, please contact us by calling 0115 928 3228 or email info@coalesco.co.uk.