Skip to main content
Here are some excellent resources for your business

Search

For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Setting up a business involves complying with a range of legal requirements. Find out which ones apply to you and your new enterprise.

What particular regulations do specific types of business (such as a hotel, or a printer, or a taxi firm) need to follow? We explain some of the key legal issues to consider for 200 types of business.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

Advice on protecting your wellbeing, self-confidence and mental health from the pressures of starting and running a business.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

One in three small firms struggle to get funding

3 June 2025

New research shows that many small businesses in the UK are struggling to access the finance they need and a worrying one in five have been turned down for a business bank account.

Outdated and inefficient verification systems are preventing many small firms from getting the finance they need to survive and grow, according to a new study on the state of SME funding in the UK.

Research conducted by digital identity platform Umazi has found that nearly one-third of SMEs surveyed said they lacked access to funding. What's more, one in five have been turned down for a business bank account.

The findings show that almost a quarter of those who applied for financial support have been rejected or subjected to delays, despite submitting extensive documentation and investing significant time in the process. Half of these rejections were due to what lenders described as a lack of trading history or an insufficient track record.

"Opening a business bank account should be a basic, seamless step for any new enterprise - yet nearly a quarter of SMEs face delays or rejections, even after submitting extensive documentation. If something this fundamental remains so complex and time-consuming, how can we expect entrepreneurs to overcome the far greater economic challenges ahead in 2025 and beyond? It's no wonder that promising businesses are stalling. This isn't just about growth being delayed - it's about opportunity being denied altogether." Cindy van Niekerk, ceo and founder of Umazi.

Barriers facing small firms that apply for funding

The report highlights the antiquated systems still used for business verification; many SMEs are forced to submit the same documents repeatedly to different lenders, often by manually scanning and emailing PDFs or even mailing original paper documents. The research shows that more than 30% of SMEs have had to manually upload PDF documents, 31% have had to print and scan physical paperwork and 27% have been required to provide non-digital originals.

Among those whose applications were rejected, 20% received no explanation at all. Others were denied on the grounds of "insufficient business history" (40%) or an inability to meet excessive documentation demands (10%).

"As SMEs struggle to raise capital and establish the basic tools they need to operate, their ability to expand, hire, and innovate is severely limited." Cindy van Niekerk, ceo and founder of Umazi.

Small business owners say the finance application process is "laboursome, outdated and unfair", according to Cindy van Niekerk. "We already have the tools to fix this; what's missing is the urgency," she says. "Every viable business turned away due to slow, manual verification is a loss, not just to the entrepreneur, but to the public, to the economy and to the country's long-term competitiveness. If we want SMEs to lead us out of economic stagnation, we must stop holding them back with paper-based systems that belong in the past."

Written by Rachel Miller.

Stay up-to-date with business advice and news

Sign up to this lively and colourful newsletter for new and more established small businesses.