Publication - Research and analysis

SME Access To Finance Survey: 2019

This report sets out the findings of the SME Access to Finance Survey 2019.

71 page PDF

2.3 MB

71 page PDF

2.3 MB

Contents
SME Access To Finance Survey: 2019
Infographic

71 page PDF

2.3 MB

Infographic

SMEs are vital to the Scottish economy[1]

  • SMEs account for 99% of businesses in Scotland
  • SMEs account for 41% of turnover
  • 55% of Scottish private sector employees work in an SME

SMEs' use and demand for external finance has fallen over time, with most SMEs relying on their own reserves

  • SMEs' use and demand for external finance has fallen over time
  • The overall value of borrowing by SMEs has fallen
  • 15% reported a borrowing event in the last 12 months
  • 85% did not seek finance and said nothing had stopped them from applying

Credit conditions had improved significantly and most SMEs were successful in obtaining all the finance applied for

  • Success rates were higher than pre-recession 2007
  • 6% turned down in at least one application
  • 4% of applications were rejected
  • 8 in 10 received 100% of finance sought

However, groups of SMEs were still facing obstacles in accessing finance

  • More than 1 in 10 medium-sized firms and manufacturing firms rated finance as a critical problem
  • 33% of rural SMEs felt bank branch closures were affecting their ability to access finance
  • Half of SMEs were not confident in understanding the different types of finance available

Contact

Email: industrystatistics@gov.scot