50%
of smaller businesses used finance in Q3 2023, up from 41% in Q1 2023.
£59.2bn
of gross bank lending in 2023, down 9% in nominal terms from 2022.
59%
of total gross lending in 2023 provided by challenger and specialist banks, exceeding the big five banks for the third consecutive year.
20%
of businesses used credit card finance in Q3 2023, up from 12% on Q1 2023 as business cashflows came under pressure.
17%
of businesses used an overdraft to support their cashflow in Q3 2023, up from 11% in Q1 2023.
£6.5bn
of equity investment in Q1-Q3 2023, down 53% compared to the same period in 2022.
7%
increase in new asset finance deals in 2023 vs 2022, totalling £23.5bn - the third yearly increase in a row and the highest level on record.
36
new banking licences have been granted since 2014 to banks serving small businesses, of which a third have been supported by the British Business Bank.
5.6m
UK private sector smaller businesses at the start of 2023, increasing year-on-year for the first time since 2020.
3%
more unregistered zero employee firms compared to 2022.