In today's fast-paced and competitive operating environment, and the backdrop of the global economic downturn, small businesses may feel under pressure when it comes to securing finance.

Yet despite this, figures from the Department of Business, Innovation and Skills (BIS) show that the overall cost of financing is now lower than before, thanks to the decline in the Bank of England bank rate. For example, average variable rate lending interest rates were 5.39% in November 2008, compared with 3.5% in November 2011.

To read the original article: Navigating the funding maze | Small business network partner zone Lloyds TSB | Guardian Professional