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Commercial finance in store for small businesses

Category: Commercial Finance — Mark on March 1, 2012

‘Get Britain Trading’ was recently included in talks at the House of Commons as the Forum of Private Business assembled to discuss the event, which exists to help small businesses. The hope is that by providing support and opportunities to obtain commercial finance, it will ultimately provide a boost to the economy.

The Department of Business, Innovation and Skills have revealed that more than 90 per cent of businesses in Great Britain are regarded as small, with less than 50 employees on board. Close to 50 per cent of employment in the private sector exists in small businesses.

Entrepreneurs are looking forward to the next 12 months, say the Forum. More than 50 per cent of those who believe in the trading initiative anticipate growth in 2012.

The obstacles in front of small businesses seem to include a withdrawal from taking advantages of any growth potential, with the focus remaining on cutting down on expenses.

Further, there are not many small businesses looking to trade internationally. The Government are looking at making more avenues available to secure commercial finance in order to assist SMEs with a chance to export, but face financial barriers.

One of the attendees at the event, Mark Prisk MP, is clearly behind the Government’s plan:

“We want to make the UK the best place in the world to start and grow a business which is why we’ve launched a range of schemes to make sure that we give SMEs the best possible opportunity to succeed.”

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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