A NEW confederation of British

Industry survey has shown SME

optimism has improved in the past

three months. But how do we turn this

confidence into growth? The answer is

alternative finance.

The rise of alternative finance has

been spectacular – the crowdfunding

sector is growing at over 400 per cent

per year, invoice finance use has

reached record levels and peer-topeer

lending in the UK stands at over

£3bn – but there needs to be more, and

raising awareness of these services is

a key part of the growth stage.

The government is embracing

alternative finance to a degree, such

as through the British Business

Bank (british-business-bank.co.uk)and

so are traditional banks, some of

which are recommending alternative

finance providers to SMEs that fail

their lending criteria. However, this

needs more impetus if small business

owners are going to benefit from the

full range of lending options available

to them and the much-highlighted

optimism is to be turned into growth.

The announcement of the UK’s first

small business funding exhibition,

the Business Funding Show

(businessfundingshow.com) demonstrates

this goal is being worked towards.

The exhibition will take place in

London in February and its aim is

to connect entrepreneurs and small

businesses with key finance providers.

The event has been backed by

Innocent Drinks co-founder Richard

Reed. The show will hopefully act

as a catalyst for other initiatives to

promote the availability of alternative

finance services.

On Friday, September 25, Worthing

and Adur Chamber will be hosting

a Networking Breakfast to discuss

funding opportunities, alternative

finance and support available in these

areas. Come along and join us at Field

Place, Worthing for what promises

to be an interesting, informative and

valuable meeting. To book, please visit

www.worthingandadurchamber.co.uk

Written by Tony Hedger, A&T Business Associates