Growth Street: Execfintech 2016 Semi-finalist presentation
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Transcript of Growth Street: Execfintech 2016 Semi-finalist presentation
Redesigning SME financefor the 21st centuryJames Sherwin-SmithCEO, Growth StreetEXECFINTECH FRANKFURT – 8 MARCH 2016
A better way to financeand grow your business
A better way to financeand grow
A better way to financeA better way
Mission
25%
75%
SME finance is a massive market, but poorly served
£140 BN lent to SMEs in the UK¹ alone, yet…
• Only 25% of SMEs consider that their bank supports their business
• Only 13% of SMEs trust their bank to act in their best interests
1. Funding for Lending extension statistics, Bank of England, September 20152. Banking services to small and medium sized enterprises, CMA & FCA, July 2014
• SME Banking: Net Detractor Score: 8%²
13%
87%
Paradigm shift in the availability of data
PAST PRESENT FUTURE
BanksStale, lacks detail,portfolio approach
Growth StreetFresh, granular data that
supports company specific models
• Current account tx data
• Statutory accounts• Management
accounts
• Cloud Accounting data
• Private API access to firm performance info
• Public web sources
• e.g. Cashflow forecasts
• Transparent Assessment
• Feedback to the firm• Better firm
performance• Better financial terms
£12BN
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£20BN
£21BN
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Overdraft: what nearly every business wants, but can’t get
SME borrowing via overdrafts in the UK(BoE, April 2011 to Nov 2015)
Down 40%in 3 years
Efficient cash flow management drives growth
Business hoards cashHuge opportunity costLimits growth potential
WITHOUT AN OVERDRAFT
£0
Flexible, short term borrowingBusiness invests excess cash (people, tech, etc.)Business grows faster
WITH A GROWTHLINE FROM GROWTH STREET
£0
Other lending solutions don’t solve this universal problem:
Wrong products (slug of capital)
Wrong approach (point in time decision)
Wrong method (sell and forget)
Wrong model (prey on lethargy & ignorance)
A better way to financeand grow your business
James Sherwin-Smith, CEO+44 7816 318310 / [email protected] / @26left
Growth Street, London, UK+44 808 123 1231 / [email protected] / @GrowthStreetUK