Small Businesses Need Better Access To Funding For Growth

Small companies’ access to finance is the issue which business secretary Vince Cable worries about the most, he has revealed.

Speaking at Innovate UK in London, Cable said: “We’re dealing with the legacy of a terrible financial crisis and it will take a while to get lending flowing to SMEs. This is the one subject which keeps me awake at night.”

The business secretary added that “banks aren’t doing what they should be doing – lending to SMEs” despite government initiatives like Funding for Lending which he admitted “frankly isn’t yet working the way it should”.

Saying that ministers are trying to get capital flowing to small firms, Cable stressed: “We realise there’s a terrible problem but we’re doing all we can.” 

WestWon’s Jeremy Hall commented, ” Access to funding and protecting cash flow remains a major issue for many SMEs today. That’s why many more businesses are actively looking at leasing as a positive way to invest and grow.”

Read about the Benefits of Leasing or call Tel: 01494 611 456 for more information.

http://www.businesszone.co.uk/topic/finances/small-firms-not-getting-funding-keeps-me-awake-night-says-vince-cable/48859

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your e-mail address will not be published. Required fields are marked *

© 2019 WestWon Limited
The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited is a credit broker and not a lender. WestWon companies deals with a range of lenders. All WestWon companies hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Get in Touch page.
This website uses Cookies to give you the best most relevant experience. Continued use of this site means you have accepted our policy.