The woes suffered by smaller enterprises in attempting to secure finance have been well documented. But 2011 may herald at least a partial easing of the credit squeeze.
The UK’s major high street banks have indicated that they will lend an extra £10 billion to small businesses this year. In 2010, the banks loaned some £60 billion to smaller enterprises.
After a meeting with the Chancellor, George Osborne and Business Secretary, Vince Cable, in December representatives of the UK’s largest banks suggested that small business lending may rise to £70 billion in 2011.
If your business would like expert help when it comes to finding funds for growth and expansion, please don’t hesitate to give us a call. For more information contact Bernadette Gibson at bernadette@jackross.co.uk or visit our Contact Page.