Fundraising sources approached prior to using P2P business platforms in the UK 2014

This statistic shows the fundraising sources that were approached by survey respondents before turning to peer-to-peer alternative financing platforms in the United Kingdom (UK), detailed for whether or not support was sought and whether or not it was offered, as of 2014. At that time, approximately 79 percent of respondents turned to the bank before using a P2P business lending scheme and out of those, 22 percent received an offer of funding, yet decided to go with the P2P funding.

Did you try to fundraise from the following sources before approaching P2P business lending and did you receive an offer of funding from them?

Sought fundingReceived offer of funding
Bank79%22%
Friends and family30%26%
Government/ Public Funder19%2%
Building society / Credit union13%3%
Angel investors13%4%
Venture capital firms12%5%
Philanthropic/ Third sector founder7%2%
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Source

Release date

November 2014

Region

United Kingdom

Survey time period

March to September 2014

Special properties

primary industry figures as well as extensive surveys of businesses and consumers

Supplementary notes

The source adds the following information: "Four stages of research activity were carried out from March to September 2014. (1) Stage one involved collecting primary transactional data directly from alternative finance platforms. (2) Stage two consisted of designing and distributing model-specific questionnaires to survey funders and fundraisers of alternative finance. In total 15,658 users were surveyed. (3) Stage three conducted in association with ACCA and PwC included two external national surveys to understand the level of awareness among consumers of alternative finance. 2,007 consumers and 506 SMEs were surveyed. (4) Stage four was the industry-wide tracking survey among UK crowdfunding associations and P2P associations to gather industrial figures for year 2014. Transactional data was collected for quarters one to three of 2014."

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Statistics on "FinTech in the United Kingdom"

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