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13 Jan 2009
£2bn of loans could be floated to small businesses as part of the government's moves to shore up the foundation of the UK economy.
Lord Mandelson the business secretary is set to make the announcement this week, according to The Daily Telegraph.
Firms employing fewer than 50 staff will be able to dip into a £1bn pot of government credit.
The business secretary is also considering plans for a separate £1bn scheme for exporters, keeping companies afloat while they wait for their overseas customers to pay invoices.
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Briefings
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Visitor comments Add your comment
Small businesses credit lifeline?
How? When? Because if it doesn't speed up immediately this country will literally fall apart. The reports say that 100 businesses a day are closing? Not only does the business close and make staff redundant, the knock-on effect is tremendous. It means that the unemployed can't pay mortgages, shop for food and clothing, have windows cleaned, take the dog to the vet. So where will that leave the businesses that rely on the trade? They too close !!! Accountants and even some departments in the HMRC will make more staff redundant. But let's look on the bright side, there's one place that the recession won't cause people to be made redundant. The Job Center, staffing there should increase. Solution? Provide financial means for businesses to retain their staff for a minimum of 6 months, thus generating business and trade immediately. Viola, the economy will at the worst remain stable, at the best begin to recover. Oh, and definately put the same restrictions (proven financial ability to repay) for mortgages on all other forms of credit. And you may be asking how the government would find the funds to support businesses to retain employees? Simple. Just stop giving our (Britain's) money away to other countries and buying fat cars and houses for fat politicians to use. By the way, this conversation and the ensuing resolution was suggested to me by my 14 year old son.
Posted by: Jane Eggleton, 13 Jan 2009 | 00:00