Have your say on finance survey

Date added: 23/01/2012

Birmingham businesses are being urged to help improve access to non-bank debt by responding to a survey from the Department for Business, Innovation & Skills (BIS).

The government is keen to understand how finance options for SMEs, mid-sized and micro businesses can be supported, which could offer significant benefits to local companies.

The views of the city’s company owners, directors and senior managers will inform the work to build on increased levels of innovation in finance for smaller businesses.
 
If you are happy to participate, please reply to the questions below.

To take part, please email your answers to the questions to pm@finditinbirmingham.com by 12 noon on Friday 27 January 2012, including your name and company name.

You can copy and paste the questions into an email and add your answers beneath each one. Alternatively, you can download a Word version of the questions here.

Please also confirm which of the following categories your business belongs to:

• Mid-sized businesses: turnover between £25-500m
• SMEs (Small and Medium sized Enterprises): businesses with a turnover of less than £25m
• Micro-businesses: Businesses with fewer than 10 employees.

BIS call for evidence: Improving access to non-bank debt

a. If you do not currently use non-bank lending channels, what stops you from doing so?

b. Are there regulatory barriers that prevent a company of your size accessing non-bank sources of finance?

c. Is cost, both of initial issuance and on an ongoing basis, a barrier that deters you from accessing non-bank sources of finance?

d. What do you think is the most appropriate source of non-bank funding for a company of your size?

e. If you currently borrow from a bank, what services does your bank provide that you cannot currently get from a non-bank lender?

f. Does your company have the manpower required to meet additional reporting requirements?

g. Do you find existing government initiatives, including regional growth funds, EFG etc, useful?

h. Do you understand the many different forms of finance available to larger businesses?

i. Do you recognise the ability to diversify your sources of finance as an important part of your risk management/business strategy?

Thank you for helping to represent the Birmingham business community.