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Figures from the Bank of England revealed this week show that banks are not currently lending enough to business according to research from personal asset lender Borro. The research figures show that about two out of every five or 40% of all SME’s have seen their revenue decrease over last year as well as their clients . . . → Read More: Banks still holding back on SME loans  1 in 5 small businesses denied loans These figures come from the latest research conducted by Sage UK, the leading accounting software and business service provider. These findings come from the January 2012 Sage Omnibus that consists of over 1000 SMEs in the UK. It also revealed that 7 out of 10 small firms are using . . . → Read More: 1 in 5 small businesses denied loans Compared with other European economies the amount of loans being given to small businesses by UK banks is low. In the last few years the number of loan approvals for small to medium-sized enterprises has fallen greatly. Official data that has recently been released shows the need for the government to encourage lending to small businesses. This . . . → Read More: UK banks give little to SMEs compared to European banks A new finance system has been announced by BT that will allow start up companies to lease equipment from the company for a value up to £15,000. The technology covered will be telecommunications as well as other technology offered by the company. The scheme is known as the ‘KickStart Scheme’ and is organised through a partnership . . . → Read More: Small businesses get a ‘Kickstart’ from BT The Commission has long said that one of the major problems in the banking sector is that it is very hard for a person to change their bank account. This has meant that competition is reduced as the major four banks in the UK have nearly 80% of all personal accounts. The Commission has just announced . . . → Read More: Commission says it must be made easier to move a bank account If you own, or dream of owning a small business that has the potential to become a big business, you’ll want to catch the bus that’s coming to Sunderland on Thursday. This is the StartUp Britain bus, which will be at the eVolve Technology Centre from 9:00 a.m. to 11:00 a.m. and at the North East . . . → Read More: The StartUp Britain bus How the recession has affected the valuations of small business Smaller businesses do not always have the high value capital assets that larger companies have. For this reason they do not have much collateral when a recession hits. This can have a substantial effect on the valuation of the business as well as its ability to survive . . . → Read More: How the recession has affected the valuations of small business Small firms have become crippled due to impersonal banks that have failed to develop relationships with their clients said Vince Cable. The Business Secretary said entrepreneurs that are cash strapped need help to expand but are regularly told that the computer said no which is a reference to the series Little Britain and a specific catch . . . → Read More: Impersonal banks hamper small business There is more trouble ahead for the high street banks, as new figures published show that they are falling short in their lending targets to small businesses by billions of pounds. The loan targets had been agreed under ‘Project Merlin’ a controversial pact with the government that was signed back in February after lengthy discussions between . . . → Read More: Banks still not lending enough to SMEs, but of course, it’s not their fault More staff than expected were shed from small business in the first part of this year even though owners are more positive about the future according to a recent study. In order to facilitate the providing of new jobs, the Federation of Small Businesses (FSB) is calling on the Government for help. At the same time, . . . → Read More: Small business continues to cut staff |
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