The report found that SMEs face a number of challenges accessing finance with 26% stating that accessing SME credit was complex and 39% that the costs of finance were too high.
The report also details FCA’s plans to reduce regulatory frictions and other challenges identified including exploring ways to avoid duplication in customer checks through the use of digital verification, ensure the regulatory regime is proportionate and prioritising high-impact use cases.
Graeme Reynolds, FCA director of competition, said:
‘Small businesses need to be able to access the finance they need at the right time to start up, grow and invest. Our regulation is not a major obstacle - that does not mean the system works as well as it could.’
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02/10/2026
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