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

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.

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