Commercial News

Growth Street launches presence in the Midlands

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17th May 2018
"I’m thrilled to launch our presence in Birmingham. I see this as a big step towards our goal of providing better guidance and access to finance for businesses around the UK."

Business finance provider Growth Street has launched its Birmingham presence, bringing on board Richard Steele as Business Development Manager for the region.

SMEs make up 99.6% of businesses in the Midlands and the launch follows Growth Street's announcement that it plans to channel £50m in funding to Midlands SMEs.

Earlier in 2018 Growth Street surveyed UK SMEs, finding that 70% of Midlands-based respondents had never looked beyond a traditional bank to finance their business. Furthermore, only 25% of Midlands SMEs said that they have a good understanding of their finance options outside the banks.

Greg Carter, CEO of Growth Street, commented: “Many businesses we speak to say that banks have made it harder for them to access really flexible, tailored finance. With many businesses having never looked outside their bank for funding, it’s clear there is more for finance providers to do to boost businesses’ understanding of the finance options available to them.

“The Midlands has long been a hub of British industry. In light of this, I think Midlands firms need more guidance on the options available to them. at Growth Street, that’s what we are committed to providing.

“I’m thrilled to launch our presence in Birmingham. I see this as a big step towards our goal of providing better guidance and access to finance for businesses around the UK. There is huge potential for business growth here, and we’re looking forward to being a part of that.”

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