Businesses in dire need of access to finance

30th January 2013

Business lending fell by £2.

1bn in December 2012 Net lending to business contracted by £18.7bn for the year 2012 Commenting on the latest lending data published today by the Bank of England, Dr Adam Marshall, Director of Policy at the British Chambers of Commerce (BCC), said: "These figures clearly demonstrate that the difficult credit environment remains a significant drag on economic growth in the UK. Some of our youngest and fastest growing firms who stand ready to pull the UK economy out of stagnation are being left out in the cold, because they can't get access to the finance they need to expand." "A fully functioning Business Bank is desperately needed to plug this gap and help viable SMEs drive the recovery. We hope that both ministers and the Business Bank's new advisory panel take heed of the success stories seen in countries such as Canada and Brazil, so that the new institution is developed into a major source of capital for those firms that really need it."

You might also be interested in

BCC Respond to New Trade Framework Deal with Indiana

Fri 27th May 2022

Reacting to news of the deal, William Bain, Head of Trade Policy at the BCC, said:

HMRC to close CHIEF: What does this mean for you?

Fri 6th May 2022

Last year HMRC announced that the Customs Handling of Import & Export Freight Computer system (CHIEF ) currently used to lodge import and export declarations will be fully replaced by a new system called the Customs Declaration Service (CDS) in 2023.

South Yorkshire Chambers Unite to Call for Mayor-led Transformation of Region's Skills Sector

Fri 29th April 2022

Business leaders from across South Yorkshire will join forces today (Friday) to call for the region’s new Mayor to urgently tackle skills shortages that are holding the region back.

Recruitment Difficulties Remain at Record Highs - Quarterly Recruitment Outlook

Thu 28th April 2022

Latest figures released today by the British Chambers of Commerce show the pressure on firms struggling to recruit staff remains at record high levels.