Small Business Finance Markets Report 2024 Infographic


of smaller businesses used finance in Q3 2023, up from 41% in Q1 2023.


of gross bank lending in 2023, down 9% in nominal terms from 2022.


of total gross lending in 2023 provided by challenger and specialist banks, exceeding the big five banks for the third consecutive year.


of businesses used credit card finance in Q3 2023, up from 12% on Q1 2023 as business cashflows came under pressure.


of businesses used an overdraft to support their cashflow in Q3 2023, up from 11% in Q1 2023.


of equity investment in Q1-Q3 2023, down 53% compared to the same period in 2022.


increase in new asset finance deals in 2023 vs 2022, totalling £23.5bn - the third yearly increase in a row and the highest level on record.


new banking licences have been granted since 2014 to banks serving small businesses, of which a third have been supported by the British Business Bank.


UK private sector smaller businesses at the start of 2023, increasing year-on-year for the first time since 2020.


more unregistered zero employee firms compared to 2022.