Milton Keynes ranks second in UK for business funding success
SMEs — small and medium-sized enterprises - remain the backbone of the UK economy, but access to finance remains challenging.
New research from Swoop Funding reveals surprising differences in approval rates across UK cities, with Milton Keynes coming in second.
According to new research from business funding platform Swoop Funding, Milton Keynes has emerged as one of the UK’s most successful cities for SME funding approvals. SMEs in the area achieved a 21% success rate, securing more than £215,000 in funding.
The findings, which analysed funding approval rates across 20 key UK cities, reveal a striking contrast. While SMEs in major hubs like Bristol and Liverpool attracted higher overall funding volumes, their approval rates lagged far behind. Bristol brought in £873,026 but only saw 16% of applications approved, while Liverpool secured £690,580 at 17%.
Top 5 Cities with the Highest Approval Rates
| Rank | City | Funding Received (in £) | Funding Approval Rate |
| 1 | Swindon | £256,050 | 36% |
| 2 | Milton Keynes | £215,497 | 21% |
| 3 | Birkenhead | £33,700 | 20% |
| 4 | Exeter | £91,543 | 20% |
| 5 | Plymouth | £178,416 | 18% |
Andrea Reynolds, CEO of Swoop Funding, says the findings reflect a growing need for SMEs to prepare more strategically for the funding process.
She said: “Securing the right funding can accelerate the growth of SMEs, but getting it wrong can put the brakes on. As CEO of Swoop, I speak to countless business owners, and while ambition is rarely in short supply, a strategic approach to funding often is. Businesses need to make sure they are fundable before approaching lenders or investors.”
It also comes against a backdrop of cautious optimism for the UK economy. The Office for National Statistics recently reported 0.3% growth in Q2 2025, suggesting a modest recovery, which could signal that the economy is stabilising.2
For early-stage companies, the funding and business loans landscape can be uneven, with debt pressures often mounting and access to capital far from equally distributed across sectors. However, according to a wider Swoop Funding report3, startups attract the most capital. SMEs aged 0 to 5 received over £30 million in funding, more than double what firms aged 11 to 15 secured.
Andrea added: “This steep decline in funding with age isn’t necessarily a bad thing. Older businesses often have more established cash flow, stronger credit histories and existing relationships with lenders. But it does highlight how essential early-stage capital is, and just how vital funding is in those formative years for a new business.”