The UK has over 5.5 million small private sector businesses, which play a critical role in the national economy. However, a lack of access to support with business finance skills is potentially holding small businesses back, creating a higher risk of financial difficulty and putting businesses at risk of failing.

The Money Advice Trust, who run Business Debtline, commissioned the Personal Finance Research Centre to conduct research to develop stronger evidence on the current business finance skills gap among small businesses – and the impact this has – as well as small-business owners’ experiences of accessing support with their business finances.

The Money Advice Trust is using the findings as part of its wider Building Up Business programme, to inform recommendations on how to help close the business finance skills gap, as well as the development of a virtual learning offer for small-business owners, to support them to manage their finances with confidence.