With the Autumn Budget causing many businesses to become increasingly hesitant to make any big moves, there is an increasing concern that long-term growth and stability could be impacted.

While it is understandable that the Autumn Budget will result in some significant changes, SMEs may be missing out by not exploring the financial options currently available to them.

The British Business Bank Debt Funds programme’s impact has been evaluated and it is worth asking whether your business should be making the most of it or similar revenue options.

What is the British Business Bank Debt Funds programme?

The British Business Bank’s Debt Funds programme aims to improve access to debt finance for smaller, high-growth companies with a focus on those with revenues up to £100 million.

The scheme is intended to plug a gap in the market where traditional lenders may have been reluctant to lend, giving growing firms the funding they need to expand operations or stabilise working capital.

Debt, when used carefully, can provide the cash injection a business needs to scale, as slowly building up revenue often serves as a barrier to growth.

However, debt must be managed responsibly because it comes with repayment and interest obligations that can cause issues if they are not properly addressed.

Independent reviews of the programme suggest it is genuinely making a difference.

Around half of the firms that benefited reported they would not have secured alternative capital without the programme and many that might have found funding elsewhere would have done so on a much smaller scale.

British Business Bank’s Debt Funds programme serves as a clear example of the benefits that come from versatile financial management and the way that this can be used to support growth.

If your company hasn’t explored the Debt Funds programme yet, it is worth considering an application.

As always, read the small print and seek trusted financial advice before committing to borrowing.

How can SMEs improve their access to funding?

Understanding the range of finance options open to your business is essential to sustaining growth.

The British Business Bank’s Debt Funds are one route among many and businesses should understand the range of grants, guarantees, equity and traditional loans available to them when considering the best ways to secure funding.

External finance can help you hire staff to meet demand, invest in technology to remove bottlenecks, or smooth seasonal dips in cash flow so you can focus on growth.

Seeking professional advice and support is the best way to make the most out of the financial options that are available to you.

In many cases, there are sector-specific loans or regional grants that can help give the business a boost.

Diversifying income streams and funding sources can be challenging, but it can improve the stability of your SME and pave the way for future growth.

Our experts can show you the most effective strategies to strengthen your balance sheet and unlock new opportunities.

To make sure your SME reaches its full financial potential, speak to our team today!