2015 was a record-breaker of a year for start-up launches in the UK. According to Companies House Data, a staggering 608,100 new companies were created last year, compared to 581,173 in 2014. Despite this, February 2016 data indicated that bank loans to SMEs decreased by £300 million in a 12-month period. Fortunately, however, alternative finance stepped up and facilitated £3.2 billion in investments, loans and donations.
The market’s reached dizzying heights, but as is the case with any young sector there have been challenges on the way up. As almost half of crowdfunding campaigns fail, we need to act and level the playing field to help businesses hit their target.
In this series of infographics, Crowdfinders explores ‘How to Grow a Business’. In this first infographic we ask the entrepreneur Will Broome – CEO and Founder of Ubamarket – about how he got the funding he needed to get his business off the ground. Hear what he had to say, here.