- 27 May
Fast Growing Businesses Have More Trouble With Funding Than New Startups
You would think that if a business is fast growing that would improve its chances of getting the funding it needs but our recent survey found that fast growing businesses had more trouble getting enough funding than new startups!
We conducted surveys of 100 fast growth companies (20%+ turnover growth pa) and 100 new startups that had commenced within the last 12 months. Our survey found that whilst 31% of the new start ups couldn't get all the finance they needed a huge 59% of the high growth companies couldn't get enough finance - that's 90% more businesses in the high growth segment having problems!
Invoice finance such as factoring and invoice discounting can be a perfect solution in both circumstances - there is funding available for new startups and for fast growing companies - the problem is that there is very low awareness of these alternative solutions and a lot of misconceptions.