As the UK economy continues to be held back by the anticipation of the Autumn Budget, it can feel like many businesses are not able to invest or grow at the moment.

However, many SMEs have actually been finding scaling success by embracing the British Business Bank Debt Funds programme to leverage their financial position and adapt to economic uncertainty.

The impact of the British Business Bank’s Debt Funds programme has been assessed and it is time to understand how your SME could benefit from the programme and others like it.

What is the British Business Bank’s Debt Funds programme?

The British Business Bank’s Debt Funds programme is designed to give a financial boost to smaller, high-growth companies with revenues up to £100 million.

The British Business Bank’s Debt Funds programme has been heralded as a key way to improve access to debt finance for smaller businesses that may not typically have been able to get the financial support in the past.

Debt financing is a core part of growth for smaller businesses, as it can provide the key injection of funds required to get the business into a healthy position.

It is important that debt financing is well-managed due to the need to repay the money with interest.

Recent evaluation of the British Business Bank’s Debt Funds programme has revealed that half of the SMEs would not have been able to secure other capital and many that did would have been substantially smaller as a result.

This indicates that the British Business Bank’s Debt Funds programme is truly impactful in providing the financial assistance that can enable the growth of SMEs.

The British Business Bank’s Debt Funds programme has succeeded in providing valuable support for small businesses and should be viewed as an effective template for bolstering economic success in SMEs.

As such, if your SME has not yet engaged with the British Business Bank’s Debt Funds programme then it is time to consider submitting an application.

Remember to consult trusted financial experts before engaging with lenders.

How can SMEs get better access to funding?

Understanding the finance and funding options that are available to you is vital if you want your SME to continue growing.

The British Business Bank’s Debt Funds programme is one of a range of financial options that can help improve your cash flow and offset some of the economic challenges facing businesses at the moment.

In particular, securing external funds can be an effective way of compensating for shortcomings in the current financial forecast if you believe that your business will be able to operate more effectively in the future.

This can sometimes present itself in the form of hiring new team members to keep pace with expanding workloads or investing in technology to break bottlenecks.

Seeking professional financial guidance is the best way to understand what help and support may exist for your business.

SMEs are often eligible for various loans and grants depending on the sector in which they operate, so having a clear understanding of different financial pathways can be a key driver of growth and sustainability.

Diversifying cash flow can be a challenge for many SMEs, so let our experts show you the most effective strategies to achieve this.

Speak to our team today to unlock your SME’s full financial potential.