The Bank of England have just released figures at the start of September which show that, despite the extension of the Funding For Lending Scheme (to encourage bank lending) to January 2015, bank lending to businesses continued to fall in the second quarter of 2013.
However, it is not all bad news. The Bank of England also stated that ‘The picture for the conditions faced by small and medium-sized businesses is more mixed, but survey evidence from the Federation of Small Businesses suggests that the pricing of loans for small businesses was more favourable in 2013 Q2 than in mid-2012’.
Whilst certain banks continue to repair balance sheets, with consequent impact on bank lending to businesses, small business owners must not be held back. They need to take advantage of every opportunity to drive their businesses forward on the route to success. I am committed to supporting owner managers in making rapid decisions, based on my own extensive industry experience, whilst providing them with access to my team of specialists and financiers.
If you are determined to drive your business forward, and want help on growth or finance, contact me.