Our industry stands ready and willing to help them navigate a path to growth and improved productivity. Government and regulators also have an important role to play and continued collaboration is key.

Our key takeaways were as follows.

• The UK is one of the most innovative nations in the world with an incredible number of entrepreneurial “colts” – but we need to do more to help them scale. 
• UK businesses continue to show strength and resilience having weathered successive shocks and demonstrated adaptability. But this has come at a cost. Confidence is fragile and borrowing appetite subdued. Some SMEs are prioritising cashflow and survival over expansion. Growth opportunities exist, but businesses are not always equipped or willing to fully pursue them.
• Regulation shapes lending, investment and growth. Post-financial crisis capital requirements have increased the cost and complexity of lending to SMEs. The Government’s growth agenda and growth-oriented regulatory reforms are welcome. Continued collaboration between Government, regulators and industry is key to unlocking lending and supporting businesses to scale.
• The UK has a longstanding productivity gap. Improving productivity is about working smarter not harder. Barriers include low levels of investment, slow adoption of technology and risk-aversion. There is no single solution. Targeted actions are needed at national and regional/sectoral level.
• Technology offers a compelling route forward. In credit decisioning, AI agents have huge potential as “analytical apprentices” – helping organisations navigate complex “grey” decisions with greater insight, speed and scale. AI can also support SMEs earlier in their journey, helping them become “finance ready” through better cash flow management, forecasting and financial planning tools. Meanwhile digital company ID could streamline onboarding and ongoing monitoring, reducing friction and improving the customer experience.
• Quantum cryptography is both fascinating and frightening, but there are practical steps businesses can take now to strengthen cyber resilience. Industry collaboration is needed to tackle financial crime and cyber threats. Resilience including cyber is a board level issue.
• Last but not least, banks are trusted. As key partners to Government, businesses and communities, the sector has a major opportunity to help drive future growth.

Speakers included Andy Haldane, President of the British Chamber of Commerce; David Postings, UK Finance Chief Executive; Gwyneth Nurse, Director General of Financial Services at HM Treasury and Reinald de Monchy, Chief Banking Officer at the British Business Bank.

We would like to thank our speakers, sponsors – Experian, FXE Technologies, Ipsos and Dancerace – and delegates for making the day so engaging and positive.