Mackman Research was commissioned to survey small and medium sized enterprise (SME) business directors by Leoni Sceti Group, London. The purpose of the study was to explore the current funding environment for SMEs in the UK. Questions were designed to gain insight into and understand the relationship that SMEs have with their key relationship banks and the funding community at large.
Mackman Research was supplied with an initial questionnaire by the Leoni Sceti Group. From a purchased business contact list, a total of 155 respondents took part. Survey participation was in the form of a telephone interview, lasting approximately ten minutes with a researcher. A charity donation was offered as an incentive. Several respondents asked for the survey to be emailed: a live connection was set up, so company directors could answer the survey questions in their own time. The research achieved a confidence level of 95% and a confidence interval of +/- 7.87%, based on recent population figures for SME businesses in England.
Conducted at a vital time when business leaders were looking for financial direction, the SME business research was a key study for Leoni Sceti. Importantly, the results showed there was a north / south split in the availability of funding, with companies in the north finding it much more difficult to secure funds from banks and / or equity investors. The business research also showed that although directors in the north have more frequent contact with their bank managers, they are much less satisfied with the service they receive.
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