Whether it’s to support product development, international expansion, team growth or an acquisition, SMEs require external funding to fuel a wide range of growth initiatives. However, fundraising can be a challenge, so to increase a firm’s chance of securing the most suitable type of funding, there are several things that a business leader should consider. When it comes to exploring options, many SMEs are concerned about traditional banks reining in their lending. With 82% of brokers reporting reduced appetite from banks to fund SMEs, business leaders may need to look elsewhere to make their growth ambitions a reality. Despite this, businesses shouldn’t be put off from applying for funding. There are a plethora of alternative options and being clued-up on these is essential when beginning the fundraising journey. HOW TO UNLOCK YOUR SME’S FUNDRAISING POTENTIAL GOING FOR GROWTH Joanna Scott Chief Business Development Officer at Growth Lending Business 54 Finance Monthly.
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