Nearly a third of UK accountants think business angels are now less accessible to SMEs as a source of funding.
A recent survey has painted a gloomy picture of the funding options available to UK SMEs. The Annual Credit Check Survey by Venture Finance, has found that almost two thirds (60%) of UK accountants think traditional bank finance is still barely available to UK SMEs.
Only 17% of theose surveyed believe business loans are available and under a third (31%) consider the EFG to be accessible to eligible businesses. Rather than business angels riding to the rescue of SMEs, it appears that the opposite is true with almost a third (30%) of those surveyed believing that business angels are in fact now less accessible as a source of funding.