This statistic presents the reasons of small and medium enterprises (SME) to seek for external finance according to SME employers who had applied for financing in the United Kingdom (UK) as of 2019. A total of 54 percent of micro companies had done so to acquire working capital to fund general growth, whilst 67 percent of medium businesses sought external finance for the same reason. 18 percent of medium businesses sought external financing in order to cover a short term gap due to an unexpected expense.
Reasons for applying for external finance according to small businesses in the United Kingdom (UK) as of 2019, by company size
Question was posed to those companies that had applied for finance and it was read as follows: 'Which of these describe the reason for seeking external finance for cashflow?'. Multiple answers were possible.
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).
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GOV.UK. (June 4, 2020). Reasons for applying for external finance according to small businesses in the United Kingdom (UK) as of 2019, by company size [Graph]. In Statista. Retrieved December 04, 2024, from https://www.statista.com/statistics/460365/small-medium-firms-reasons-to-seekl-financing-united-kindom/
GOV.UK. "Reasons for applying for external finance according to small businesses in the United Kingdom (UK) as of 2019, by company size." Chart. June 4, 2020. Statista. Accessed December 04, 2024. https://www.statista.com/statistics/460365/small-medium-firms-reasons-to-seekl-financing-united-kindom/
GOV.UK. (2020). Reasons for applying for external finance according to small businesses in the United Kingdom (UK) as of 2019, by company size. Statista. Statista Inc.. Accessed: December 04, 2024. https://www.statista.com/statistics/460365/small-medium-firms-reasons-to-seekl-financing-united-kindom/
GOV.UK. "Reasons for Applying for External Finance According to Small Businesses in The United Kingdom (Uk) as of 2019, by Company Size." Statista, Statista Inc., 4 Jun 2020, https://www.statista.com/statistics/460365/small-medium-firms-reasons-to-seekl-financing-united-kindom/
GOV.UK, Reasons for applying for external finance according to small businesses in the United Kingdom (UK) as of 2019, by company size Statista, https://www.statista.com/statistics/460365/small-medium-firms-reasons-to-seekl-financing-united-kindom/ (last visited December 04, 2024)
Reasons for applying for external finance according to small businesses in the United Kingdom (UK) as of 2019, by company size [Graph], GOV.UK, June 4, 2020. [Online]. Available: https://www.statista.com/statistics/460365/small-medium-firms-reasons-to-seekl-financing-united-kindom/
