- 11 Jun
New Starts Want More Support Advice & Help From Their Bank But Haven't Considered Invoice Finance
32% of new start ups that we interviewed (from a sample of 100 new start businesses) said they would have liked more support and advice when they started their new business.
Of those, nearly 41% said that they wanted more support from their bank.
When we looked at the other answers from that 41%, all of them said that they were unable to raise enough finance when they first started and in all cases they said that their bank were either unwilling to lend enough or had turned them down for a loan or overdraft.
Almost a third of this group ended up using their own or family money in order to fund their start up business as they were unable to secure enough bank funding and none of this group even considered using invoice finance.