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CSO statistical release, , 11am

Access to Finance

2014

Small and medium sized enterprises applying for different types of finance, 2014
%
Size of Enterprise Bank financeEquity financeOther types of finance
   
Micro (1-9 Persons employed)20.01.75.0
Small (10-49 Persons employed)35.02.58.0
Medium (50-249 Persons employed)39.84.79.1
All SMEs (Under 250 Persons employed)21.41.85.3
     

Bank finance the most popular type of finance sought by SMEs in 2014

Figure 1: SMEs applying for finance, 2014
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Results from the 2014 Access to Finance survey show that bank finance was the most popular type of finance sought. Over a fifth of all small and medium sized enterprises (SMEs) applied for such finance in 2014. While 20% of micro sized enterprises  applied for bank finance, the rate rose to 35% for small sized enterprises and increased again to 39.8% for medium sized enterprises.

Relatively few SMEs looked for finance from non-bank sources, for example only 4.7% of medium sized enterprises looked for equity finance compared to 39.8% of similar sized enterprises who looked for bank finance. Exporting SMEs generally made more applications for bank finance than non-exporting SMEs. See Headline table, Table 1 and Figures 1 & 2.