1、Small Business Finance Markets 2024/25british-business-bank.co.ukContentsCEO foreword 3Executive summary 7Introduction 10Aggregate flow and stock of smaller business finance 12Macroeconomic developments 15Part A:The importance of business investment and the role of access to finance 241.1 Business i

2、nvestment 25Part B:Market developments 41Small business characteristics 422.1 Small business population 432.2 Small business demand for finance 49Diversity,equity and inclusion and environmental sustainability for smaller businesses 562.3 Access to finance for underrepresented groups 572.4 Regional

3、access to finance 682.5 Finance for environmental sustainability 81Equity finance and private debt 902.6 Equity finance 912.7 Private debt 103Bank lending 1132.8 Bank lending 1142.9 Challenger and specialist banks 124Alternative lending and debt products 1342.10 Asset finance 1352.11 Invoice finance

4、&asset-based lending 1402.12 Alternative finance 145 British Business Bank2Small Business Finance Markets 2024/25CEO forewordSince the British Business Banks inception,an important part of its remit has been to analyse and understand the functioning of the UKs smaller business finance markets,examin

5、ing both smaller business demand and finance providers supply.This has always been essential in informing and shaping work between policy makers and market participants,and in the design of our programmes which address those markets needs.3Now in its eleventh year,our flagship annual Small Business

6、Finance Markets report is a key part of our output,providing an in-depth analysis of the markets for smaller business finance in the UK and acting as a trusted source of information about how they operate and deliver for smaller businesses.The case for business investmentThis year,as well as reporti