Access to finance for UK social enterprises

José M. Liñares-Zegarra, John Ogilvie Stephen Wilson*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

8 Downloads (Pure)


We investigate access to finance for social enterprises, including those that are women and minority ethnic group (MEG) led. Using data from the UK Longitudinal Small Business Survey, we find that relative to small and medium enterprises (SMEs), social enterprises are less likely to apply for bank overdrafts, but more likely to apply for government grants. However, upon application, social enterprises are more likely to receive commercial mortgages, credit card funding, government grants and loans from mainstream financial intermediaries. By leadership diversity, women-led social enterprises are more likely to apply for loans from a bank, but less likely to receive bank funding compared to male-led counterparts. Our results also show that MEG-led social enterprises are less likely to apply for credit cards and government grants. Nevertheless, when they do apply, MEG-led enterprises have a higher probability of being granted government funding. In contrast, upon application, their chances of securing a bank overdraft facility are lower compared to those led by non-minority ethnic groups.
Original languageEnglish
JournalEuropean Journal of Finance
VolumeLatest Articles
Early online date8 Apr 2024
Publication statusE-pub ahead of print - 8 Apr 2024


  • Access to finacne
  • Sources of funding
  • Small and medium-sized enterprises
  • Social enterprises
  • Women-led social enterprises
  • Minority-ethnic group enterprises


Dive into the research topics of 'Access to finance for UK social enterprises'. Together they form a unique fingerprint.

Cite this