Small business support network Enterprise Nation and Capitalise, the business finance platform have announced a partnership that will deliver a pioneering SME finance hub, giving small firms access to finance and strategic support in one place.
News of the alliance follows research which found 61 per cent of small businesses say they need to take on finance to fund vital expansion in 2022.
The hub will deliver specific advice, digital lending options, online investment workshops and e-learning in a bid to improve the financial knowledge of the UK’s small business community.
According to research, commissioned by Capitalise and Enterprise Nation, more than half (55%) of small UK businesses worry they won’t be eligible to take on growth finance in 2022 after receiving Government-backed loans over the pandemic.
Emma Jones, founder of Enterprise Nation, said: “First of all, it’s not true that having had, or even being turned down for a CBILS or BBLS loan will prevent firms accessing the finance they need. It’s unsurprising there is a lot of confusion about finance following the past two years. Many small firms took on, or applied for loans for the first time in their history, but with the growth opportunities that face them in 2022, many need to increase that investment again.
“That's why our partnership with Capitalise to deliver lending support and advice is so timely. We need to ensure businesses can have access to the funding they need to take advantage of the opportunities on offer in 2022.”
Paul Surtees, CEO and co-founder at Capitalise said: “At Capitalise, our vision is to give small businesses and their advisers transparency and control over business finance, in one place. Our partnership with Enterprise Nation is built around the principle of giving every business an equal chance of success by increasing financial understanding in the small business community. With access to over 100 business lenders, our aim is to help them build a healthier business.”
The research, conducted amongst 500 small business founders, also revealed half of small business founders say they don’t know who to trust to get the finance they need, with 58 per cent admitting they need help understanding the finance options available.
The SME Lending Hub will curate lending options and relevant advice and deliver specifically-targeted insights directly to businesses looking for support. It launches on January 21.
