Adam Tyler, executive chairman of the Financial Intermediary & Broker Association (FIBA), has stated that one-third of SMEs still do not secure the funding they need.
Tyler, in his role as director and chair of the Access to Finance committee of SME lobbying group, The Genesis Initiative, was presenting a report and survey titled ‘Improving Access to Finance for UK SMEs’.
The invited audience included MPs and peers, UK Finance, the British Business Bank, heads of SME groups and lenders to business and was held in the House of Commons last week.
The report was designed to find out their views on what needed to be done in terms of improving access, awareness and building confidence.
Its findings included the following:
