Grounds for not seeking external finance by SMEs in the United Kingdom (UK) in 2014

This statistic presents the reasons for not applying for external finance for their business according to small and medium enterprises (SMEs) in the United Kingdom (UK) in 2014. The question was posed to those SME employers that stated the need for external finance in the last 12 months but had not applied for it. The dominant reason for not applying was the unwillingness to take additional risks (47 percent). The belief that the application would be rejected was the second most frequently cited reason (44 percent).

Reasons for not applying for external financing according to small and medium enterprises in the United Kingdom (UK) as of 2014

Share of businesses
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Source

Release date

March 2015

Region

United Kingdom

Survey time period

July to October 2014

Number of respondents

334 respondents

Special properties

small businesses with employees.

Method of interview

Computer-assisted telephone interviews (CATI)

Supplementary notes

Question H17 read as follows: "Which of these, if any, are reasons why you did not apply for this finance in the last 12 months?".
Survey was conducted among small and medium businesses with employees. Three categories were distinguished, based on employees numbers: micro businesses (1 to 9 employees), small businesses (10 to 49 employees) and medium businesses (50 to 250 employees).

More information regarding survey methodology can be found in BIS Research Paper number 225 on page 10.

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