Recent Release | 10 Mar 2022
Financing the Future: Funding Circle’s 2021 impact
Economic Consulting Team
Oxford Economics
Small and medium-sized enterprises (SMEs) continued to face challenges in 2021 as the year started with a third national lockdown. But rising confidence among SMEs dovetailed with improved performance throughout the year as the post-pandemic recovery continued.
In this report we investigate the uneven impact the pandemic and ongoing recovery is having on SMEs, and the role access to finance will play in their future plans for investment and growth. We also examine the vital role entrepreneurs played in driving the recovery forward in 2021. In order to maintain this recovery’s momentum, it’s imperative that small businesses continue to access the finance they need to grow. In 2021, Funding Circle facilitated £2 billion of lending to SMEs located in every one of the UK’s 650 parliamentary constituencies.
About the team
Our economic consulting team are world leaders in quantitative economic analysis, working with clients around the globe and across sectors to build models, forecast markets and evaluate interventions using state-of-the art techniques. Lead consultants on this project were:
Stephen Foreman
Associate Director, Economic Impact
+44 (0) 203 910 8107
Stephen Foreman
Associate Director, Economic Impact
London, United Kingdom
Stephen leads a team of economists who assess the economic impact of a variety of different firms and industries. Recent consultancy projects he has led include assessments for the World Travel and Tourism Council, Dubai Free Zones Council, the Aerospace Technology Institute, Funding Circle, Reckitt, and ASOS.
Stephen has also worked on Oxford’s Global Industry Service where he was responsible for forecasting the global transport sector, leading Oxford Economics’ industry research, and managing consultancy projects for industrial organisations.
Stephen joined Oxford Economics from the UK civil service, where he worked on a range of macroeconomic, fiscal, tax and welfare policy issues across HM Treasury, the Office for Budget Responsibility and the Department for Work and Pensions.
James Bedford
Senior Economist
+44 (0) 203 910 8133
James Bedford
Senior Economist
London, United Kingdom
James is an Economist working within the consultancy division of Oxford Economics.
James first joined Oxford Economics in July 2016 as part of his industrial training scheme, when he spent the year assisting the economic impact team with a wide range of projects. Following his industrial placement, James returned to Newcastle University to complete his BSc in Economics. For his dissertation, James was awarded the European Award for Aviation Economics by the German Aviation Research Society. He has re-joined the consultancy division working primarily with economic impact studies.
Related Reports
Post
Experian / Oxford Economics Main Street Report
Experian/Oxford Economics’ Main Street Report brings deep insight into the overall financial well-being of the small-business landscape, as well as provides commentary on what specific trends mean for credit grantors and the small-business community.
Find Out More
Post
The Economics of Reduced-Risk Products: Global policy landscape and principles for policy treatment
In this study, Oxford Economics assesses the policy landscape for ‘Reduced-Risk Products’ in the tobacco market, and explores the potential health and economics consequences of taking a precautionary policy stance against them.
Find Out More
Post
The Economic Impact of China PNTR Repeal
This study provides rigorous analysis to inform policymakers on the potential impact of an escalation in US-China tariffs. We examine how removing China's Permanent Normalized Trade Relations (PNTR) status would affect the US economy, finding that tariffs would cause substantial output and job losses.
Find Out More