If you’re a small business owner wondering whether it’s difficult to access funding right now, you’re not alone.
With rising costs, tighter lending rules, and an ever-changing economic landscape, getting the right financial support for your business can feel like a bit of a minefield.
But while there are certainly challenges, it’s far from impossible. In fact, with the right approach – and the right support – securing business finance could be easier than you think.
Let’s take a look at what’s going on in today’s market, what hurdles small businesses often face, and how working with a finance broker can make the process smoother, quicker, and more successful.
What’s the current climate like for business finance?
The last few years have brought a lot of uncertainty – from the impact of the pandemic to rising inflation and interest rates. Understandably, many lenders have become more cautious, with stricter lending criteria and a greater focus on risk. That means some businesses, especially newer or smaller ones, are finding it harder to get approved for the finance they need.
At the same time, there’s been an explosion in alternative finance providers, challenger banks and new ways of accessing funds – which means there’s still plenty of opportunity out there, if you know where to look.
So yes, the market has changed, but that doesn’t mean business finance is out of reach. It just means businesses need to be more informed, more prepared, and ideally, better supported.
The challenges small businesses face
One of the biggest challenges for small businesses is knowing where to start. There are hundreds of lenders out there, each offering different products with their own terms, interest rates, and eligibility requirements. Trying to compare them – let alone apply to the right one – can be time-consuming, confusing, and frustrating.
Some businesses struggle because they haven’t been trading for long, don’t have a strong credit history, or operate in a sector that lenders see as high-risk. Others face seasonal cashflow dips or one-off challenges that affect their application at just the wrong time.
And let’s be honest – paperwork isn’t everyone’s cup of tea. When you’re busy running the day-to-day, putting together detailed financial forecasts, management accounts, or cashflow projections can feel like one more task too many.
That’s where working with a broker can be a real game-changer.
How a broker can help
A broker’s job is to take the stress and guesswork out of finding the right finance. Instead of trawling through options yourself, a broker will get to know your business, understand your goals, and match you with the most suitable lenders and products.
They know what lenders are looking for – and how to present your case in the best possible light. Whether you’re after startup funding, property development or investment finance, or a short-term cashflow loan, a broker can help you navigate the process, avoid the common pitfalls, and boost your chances of success.
More than that, they’ll explain things in plain English, help with paperwork, and guide you from enquiry to approval. And because many brokers have access to exclusive deals or specialist lenders, you might find options you wouldn’t have even known existed.
Making business finance more accessible
In today’s market, accessing business finance might take a little more planning – but it doesn’t have to be hard. The key is knowing your numbers, being clear about your goals, and getting the right advice early on.
Whether you’re looking for funding to start your business, support a property investment, or smooth out cashflow, the right finance can make all the difference. And with a broker by your side, the whole process becomes much more manageable.
Looking for support?
At South West Business Finance, we specialise in helping businesses of all shapes and sizes find the finance that fits. From cashflow loans for small business and startup capital, to property development funding and everything in between, we’ll help you understand your options and access funding with confidence.
No jargon, no pressure – just straight-talking support from people who get it.
Talk to us today and let’s find the right finance to help your business move forward.