Financing for small and medium-sized innovation enterprises in the United Kingdom

A lack of financing for small and medium-sized enterprises is an urgent problem today. Innovative economy development directly depends on the innovative activity of small and medium-sized enterprises. At the same time, innovative enterprises have little opportunities to get external financing due to their peculiar workings. The UK is one of the leading countries with the innovative ecosystem and developing financial instruments for small and medium-sized enterprises. The country has a large number of special grant programs to support innovative startups. Under government support for small and medium-sized innovative enterprises, special preferential lending regimes, as well as tax incentives for research activity and increase of venture financing were adopted. The UK is a leader of the European Region in development of alternative sources of financing, such as online lending, crowdfunding and crowdinvesting, invoice sales, etc.