The total that small and medium-sized businesses receive from alternative methods of financing such as crowdfunding and P2P lending in 2014 is likely to reach £1 billion, the innovation agency Nesta has found.
This investment will be shared among an estimated 7,180 small and medium-sized businesses, and amounts to the equivalent of 2.4 per cent of bank lending to businesses, Nesta said in a report published on 7 November.
Alternative financing has given people more control over how they spend their money, and has given entrepreneurs, small businesses, charities and community organisations easier access to cash, Nesta said.
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