Regional Business Information for Yorkshire
Government told SMEs need cash to emerge from recession
3rd August 2009
By Anastasia Weiner - Business Correspondent, Yorkshire
BUSINESS support and lobby group the Forum of Private Business (FPB) is urging the Government to help small firms grow when Britain's economy begins to pick up. The FPB believes that struggling smaller businesses could be unable to expand and cope with an upturn in trading as the country heads out of recession.
It is arguing that the Government needs to ensure both private and public funding is available to help SMEs develop in the event of an economic upturn.
The organisation's comments have been submitted to the ......for the full story register now for free or login below...
I agree that funding for SMEs in the upturn will be vital. Since 2004 Partnership Investment Finance (PIF) have been offering loans and equity funding to SMEs unable to raise money from traditional sources. Between 2004 and 2008 we invested a fund of £37m, which illustrates a strong demand for the type of funding described. PIF is still open for business and is continuing to support SMEs in Yorkshire and the Humber. Going forward I think regional investment funds such as ours have a key part to play in helping the economic recovery – we are able to support innovative and forward thinking businesses at a time when many banks are closing up shop. Strong regional knowledge also plays an essential part in making informed choices about which businesses to support. Jon Harris
Jon Harris