Small businesses family funding

Posted on 22 May 2024
Share Blog Post

A third of small businesses get funding from family

Nearly 30% of small businesses receive financial backing from family members, with three quarters stating that the finance provided was essential. Specialist lender Iwoca's research shows that 56% of small business owners received £25,000 or less from family members, with 17% receiving £25,000 to £50,000 and 19% receiving more. The main reasons for turning to family for funding were the desire to create a family-owned firm and urgent funding needs. Parents were the most likely to provide funding, followed by partners. In 48% of cases, funding from family members helped improve relationships while for 9% it made it worse.

View more blog posts

SME lending increases
Posted on 19 Jun 2024
SME lending increases
read more
More tax awaits us
Posted on 12 Jun 2024
More tax awaits us
read more
High tax Britain
Posted on 05 Jun 2024
High tax Britain
read more
Biggest tax freeze in history
Posted on 29 May 2024
Biggest tax freeze in history
read more
Back To Top
01604 660661