Businesses need funds

Dales firms are unable to secure finance – a new study has found.

The survey, conducted by Bibby Financial Services found that 37 per cent of businesses in the East Midlands have been unable to get financial assistance in the past 12 months – with just three per cent receiving the amount of funding they applied for.

Of the firms which applied for funding, almost one in five were unable to raise the necessary capital to invest in their business.

Sharon Wiltshire, of Bibby Financial Services East Midlands, said: “If we didn’t need further proof that businesses require greater access to finance, these findings clearly highlight the size of the gap between funding supply and demand.”