Access to Finance: Breaking the funding barrier

Small and medium-sized enterprises (SMEs) are making a significant contribution to the UK’s economic recovery, yet access to funding remains one of the main barriers to their development and growth. Deloitte in the Midlands has been working on an Access to Finance project alongside BPS Birmingham — which represents the professional services sector in the city — and the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP).

Launched in March 2015, Access to Finance is a web portal that seeks to match SMEs in Birmingham with the right sources of funding, simplifying the financing process.

The portal divides finance providers into areas of specialism and expertise. It provides them with a way to connect with businesses across a range of sectors, from the creative industries to manufacturing supply chain. It also gives useful explanations and tips to SMEs on the different types of finance available depending on the stage of their business development.

Early feedback shows that the portal is already providing a valuable service to the local business community.

“Together, we are working towards a common goal: improving opportunities for businesses of all sizes across all sectors. This in turn will help us achieve our increased economic growth and job creation targets. Our role as the Local Enterprise Partnership is to bring the best of the private sector to bear with the public sector; this is the perfect example of when that works for the greater good of a community.”

Andy Street, GBSLEP Chairman

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