The SME market is the lifeblood of the UK. Without it, we do not have an economy. At the start of 2016, there were 5.5 million businesses in the UK, with 99 per cent of them SME’s (companies with up to 249 employees) equating to over 60 per cent of total private sector employment. This is an increase of two million businesses since 2000. During this period we encountered a major recession and the largest financial crisis the world has ever seen, yet the SME market has grown. Of course, not all have survived,


but it is the British resilience and entrepreneurship that has assisted the UK to grow. These businesses require access to all available funding options to enable them to continue their growth. Traditional business banking,


having a dedicated person in branch who understands your business has long gone. A bank’s principal asset historically was their people. Unfortunately, the most valuable, experienced individuals have been heavily cut, replaced by systems, technology and cheaper less experienced staff. With 461 branch closures already announced, with the possibility of this rising to 525 in 2017 alone, where does this leave the most important stakeholder – the customer? I am all for technology and moving with the times, but that


A modern approach to


Funding a business


Dave Totney, managing director at Liquidity Club, offers his advice on the alternative avenues open to business owners seeking finance.


50 CHAMBERLINK November 2017


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