Here at ASC, we write a lot about the work we do with small businesses. When you work in the SME sector, it’s a reasonable thing to do – 95% of companies in the UK have fewer than 5 staff. However, just because the majority of businesses are small, it doesn’t mean that we should ignore the M in SME.
Operating a mid-sized business is a completely different challenge to smaller businesses. You aren’t large enough to have safety nets, but you’re certainly too big to operate in the same manner as a small business. This leads to different challenges finding finance – a challenge that many businesses seem to be struggling with at the moment. A recent piece of research by Wyelands Bank, focused on the manufacturing industry, claims that nearly half of mid-sized UK businesses in the sector had seen struggles with raising finance.
We think that’s a terrible shame – because it’s a situation that could easily be avoided by using the right broker. Just like the operational structures of medium businesses are different, so is the finance journey they’ll go through. It’s a matter of knowing how businesses can navigate that journey best to get the result that’s right for them.
People tend to focus on the extreme ends of finance – the massive major firms and the multitude of tiny ones. They forget about the equally-important businesses in the middle. Not so with ASC. At ASC, we know the unique challenges that mid-sized businesses can face in the finance world, and we know how to navigate them to get the finance that’s needed. Some of our more recent successes with medium businesses are actually in the manufacturing world itself! To give a few examples:
- We raised £364,000 for a joinery firm to purchase a warehouse.
- We helped a steel and metalworks find £130,000 of finance they needed to expand.
Medium businesses might be struggling to find finance elsewhere, but we know that we can get the finance your business needs.