Swindon & Wiltshire News
Startups in Swindon more likely to secure funding than in any other city
Startups and SMEs in Swindon are more likely to secure funding than in any other city, according to new data.
In a survey by Swoop Funding, the town has emerged as the most successful business centre for funding approvals.
SMEs and startups there achieved a 36 per cent success rate, securing more than £256,000 in funding.
Businesses in Bristol attracted £873,026 but only saw 16 per cent of applications approved, placing them 10th. Reading was 18th, with a success rate of 13 per cent securing £222,920.
Andrea Reynolds, CEO of Swoop Funding, said the findings reflect a growing need for SMEs to prepare more strategically for the funding process.
“Securing the right funding can accelerate the growth of SMEs, but getting it wrong can put the brakes on,” she said.
“As CEO of Swoop, I speak to countless business owners, and while ambition is rarely in short supply, a strategic approach to funding often is.
“Businesses need to make sure they are fundable before approaching lenders or investors.”
