In today’s turbulent economic climate, small businesses are the backbone of our communities, yet they can often face challenges in securing the finance necessary for survival and growth.

A recent survey* by Jerroms, part of the Sumer Group, underscores this struggle, revealing that 20% of small business owners in the West Midlands cite access to finance as their most significant hurdle. Alarmingly, nearly half of the businesses surveyed have contemplated closing their doors in the past six months.

This situation is not just a statistic; it is a stark reality that threatens the vibrancy and diversity of our local economy. Small businesses need external finance for various reasons—whether it’s to expand, manage cash flow, or invest in new technology. However, the path to securing this finance can be fraught with obstacles. Jerroms offers a beacon of hope in this challenging landscape. Their confidential consultations are tailored to understand and support the specific financing needs of each business. By focusing on risk assessment and safeguarding the future strength of businesses, Jerroms ensures that their clients can make informed decisions.

Richard Rigg, Director of Jerroms Mortgage & Finance, aptly captures the essence of this issue: “At Jerroms, we understand the critical role that small businesses play in our economy and the challenges they face in accessing finance. Our team is committed to providing the expertise and support needed to help these businesses thrive. We focus on understanding the terms and long-term benefits of each funding type, identify the right provider, and then secure the necessary funding, ensuring clients receive trustworthy and reliable support. Accessing finance doesn’t have to be an insurmountable challenge. With the right guidance and support, businesses can navigate the financial landscape and secure the funding necessary for growth and sustainability.”

Download our Debt Advisory Support brochure to learn more on how we can help and advise, whatever your finance raising needs. If this sounds of interest and you would like to explore the options available in more detail, our award-winning team are on-hand to offer advice and support. We are authorised and regulated by the Financial Conduct Authority.

*United Growth based on a survey of 610 small business owners across the UK