Small businesses are such a huge part of our economy – over 99% of the 5.7 million businesses in the UK are SMEs. These account for 60% of the working population’s livelihoods and 53% of turnover.
In fact, there has been a 63% increase in the number of businesses in the UK since 2000, with hundreds of thousands of new small businesses starting up every year. But that doesn’t mean it’s easy out there.
As many as 80% of new businesses fail in the first year and only half the SMEs who started out 4 years ago will still be in operation today. Without accountants and brokers to provide support, knowledge and solutions to everyday problems, many of these small businesses could fall into the wrong statistic.
You’re invaluable to the small businesses you support
While you may support a range of small businesses across various sectors that specialise in many different fields, you know the business of business. It’s this objective, business-focused knowledge and experience that makes you such an asset.
Many business owners don’t have much of an understanding about the different sources of funding beyond a bank loan and an overdraft, nor what kind of solutions would be best for them. Access to advice on these kinds of issues is what keeps these small businesses from becoming yet another statistic.
You’re the fabric of the industry helping small businesses get access to cash
According to the Financial Services Consumer Panel in the House of Commons Treasury Committee report on SME Finance:
Authoritative, independent and impartial guidance would enable small businesses to make informed decisions about whether to borrow or not, and the most appropriate options open to them, as well as help with their wider financial arrangements. It would give them the confidence to look beyond their main bank to find more suitable products and better service.
It’s a fact that one in two SMEs experiences barriers when trying to access finance. Fortunately for them, this is where you come in. Educating small businesses on the funding solutions available is one of the most critical roles you play.
You’re part of the trusted ecosystem helping small businesses to thrive
Small- and medium-sized businesses make a massive contribution to the UK economy (£2 trillion in 2018 alone) – giving employment to thousands and keeping the wheels of the economy turning. They are absolutely vital to the country’s economic health. So, helping them flourish is essential.
Equally important to the role SMEs play is the role you play as introducer. Whether you’re a broker or accountant, you bring solutions to SMEs’ vast and varied range of problems – breaking down the barriers and enabling their success.
You offer the right solutions to solve problems for small businesses
The financial sector is blossoming with innovative solutions to everyday funding challenges. MarketFinance works with hundreds of commercial finance brokers, accountants, advisors and corporate partners to provide their clients with business loans and invoice finance solutions.
Whether we’re helping businesses with their cash flow as they manage lengthy payment terms or with funding as they take on new projects, we’re quick to respond, easy to work with and offer the kind of flexibility that small businesses need.
Small businesses need the right people and technology to work together
Our simple and efficient online platform and data-driven automation enable us to do things very quickly and to take the hassle out of finance for our customers.
Yet despite being one of Europe’s leading Fintechs, we know that tech by itself is not enough when it comes to providing a trusted financing service. That’s why our technology is always backed up by help, in real-time, from a team of people who understand the needs of small businesses.