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The Innovative firm’s journey to finance

Client - Department for Business, Innovation and Skills

Building on a previous BIS (2013) research into the pathways to external finance for UK SMEs, this work in collaboration with BMG Research, explored the pathway to external finance for the innovative business. It aimed to establish the extent to which the degree and type of innovation in businesses at all stages of the business life cycle is different in terms of the types of finance required and available. The research involved a literature study and modelling in combination with large scale UK secondary data analysis in order to establish what was known and inform a second stage qualitative in-depth survey of 50 innovative businesses in order to gain greater insight into the access to external finance processes in these businesses, ranging from the smallest employer SMEs to Mid-Sized Businesses.

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