HSBC UK has launched its 2022 £15 billion lending fund for small- and medium-sized businesses, supporting local economies, employment opportunities and driving growth across the country.
Businesses have told HSBC that they are ready to invest for growth and are confident about the prospects for their own businesses. They say the biggest areas of opportunity are in sustainability (12%) and digitalisation (11%). While concerns about the broader market remain, HSBC’s customers are thinking about growth via investment, acquisitions and capital expenditure.
The fund is a key part of HSBC’s commitment to help British businesses to innovate, thrive and grow in the UK and internationally. SMEs are vital to the UK economy and account for three-fifths of the employment and around half of turnover in the UK private sector, according to the FSB. The fund includes specific regional and locally focused allocations so that companies throughout the country can benefit.