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Top 10 Cities For SME Funding In The UK

Top 10 Cities for SME Funding in the UK

Keep reading to discover the latest regional hot spots for SME funding and growth in the UK.

by Credit Passport
3 MINS READ

We have asked our partner, 365 Business Finance*, to analyse and share the latest regional hot spots in the UK for SME funding and growth, naming the top 10 cities.

Over the last 18 months 365 Business Finance has funded the greatest number of SMEs in the following high-growth locations:

1. London
2. Manchester
3. Newcastle
4. Birmingham
5. Sheffield
6. Canterbury
7. Brighton
8. Edinburgh
9. Chelmsford
10. Tonbridge.

According to the recent data on London and Manchester, retail businesses have proved the most funded SMEs in those cities, while in Newcastle and Canterbury it’s restaurants.
Food retail has stood out as the most funded SME sector across the country, with Birmingham, Sheffield, Chelmsford and Tonbridge having the highest concentration of food retailers applying for revenue-based finance.

Further south and north in the UK, in Brighton and Edinburgh, pubs are the businesses maximising the benefits of fast and flexible finance – with pubs in and around Edinburgh currently preparing for the much-anticipated 75th Edinburgh Fringe Festival, taking place on 5-29 August, 2022.

Managing Director at 365 Business Finance, Andrew Raphaely, said, “It’s always fascinating for us to analyse the trends relating to our funding in different parts of the country. It paints a fuller picture in terms of the industry sectors that are flourishing and where SMEs require financial support the most, whether that’s for an expansion project, or a revamp relating to premises or marketing. Sometimes our funding is simply to aid with the smooth running of a business.”

Would you like to know more?

365 Business Finance* are a financial provider that offer merchant cash advances to small and medium-sized businesses across the United Kingdom. A merchant cash advance is designed as a quick way for businesses that accept credit and/or debit cards to raise capital without the need for a bank loan or hefty overdraft.

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