Govt quizzes small firms on finance
Jun 17 2009
Small companies are being asked to give evidence in a government review of access to finance.
The Rowlands Growth Capital Review is seeking input from small firms, alongside banks, regional development agencies, venture capital specialists, industry representatives and academics, on how economic recovery can be supported in the UK.
Headed by venture capital expert Christopher Rowlands, the report will examine if the government needs to intervene in the market to boost the funding which is available to small firms.
The Department for Business, Innovation and Skills explains that the period immediately after a recession is when the demand for long-term growth finance is at its highest, but is also when small firms find it the most difficult to access, leading to the review being launched.
Lord Peter Mandelson, business secretary, comments: '[Small] businesses now have the opportunity to contribute to our thinking on the frameworks we will need to put in place for a competitive, thriving market.'
Small firms will be able to offer evidence for the review until July 17th.
Recent research from the Confederation of British Industry found a net 20 per cent of firms believe the supply of credit has worsened, an improvement on the 36 per cent which thought this in March.
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