BGN Entrepreneur

According to a report released yesterday, a third of small businesses in the UK are now struggling to access credit, as banks are greatly reducing commercial overdraft facilities and seeking more security for loans.
According to the Federation of Small Businesses, about one in five firms said they were being hit by higher charges. It is precisely the time when small businesses most need support from the banks. However, a majority said their banks were less helpful now than it used to be before the recession started. These figures demonstrate how times are really tough for small firms and how access to finance continues to be a real challenge.
With business casualties hitting as high as 86 a day, the Daily Mail’s Fair Deal for Small Firms campaign has highlighted the plight of what is seen as the ‘lifeblood’ of UK’s economy.
The Government must focus on boosting business confidence and lifting the economy out of recession.

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