Commissioned by the Department for Business Innovation and Skills
This was a follow-up, qualitative study of 15 mid cap businesses (defined as having a sales turnover of between £25m and £500m) drawn from the 2010 Finance Survey of Mid cap Businesses. The research aimed to explore the reasons why businesses had been only partially successful or unsuccessful in raising bank finance, and whether the recent performance of the business could partly explain the problems the business was experiencing. The results showed that most of the businesses were able to obtain at least some finance, and in some cases the businesses turned down the offer because the terms and conditions were considered unsatisfactory. The application process for obtaining finance was found to be more demanding than previously, and the difficulties of accessing finance were impacting on performance in most cases.
Date published: December 2010
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