Former ICAEW chief seals SME finance deal

by Kevin Reed

More from this author

13 Dec 2012

  • Comments

AN INVESTMENT GROUP headed by former ICAEW chief executive Eric Anstee is one of four firms picked help launch a new government SME finance initiative.

The City of London Group, of which Anstee is CEO, has been awarded a £5m ‘mandate' on behalf of the Department of Business, where the government will match the group's investment into the SME community.

City of London's funding subsidiary, Credit Asset Management, invests in small business – and in particular to professional services.

The Business Finance Partnership was announced by the government on 29 November 2011 as part of an initiative to support SME growth across the UK.

A total of £110m in mandates will be issued to increase the flow of credit through ‘non-traditional' channels.

Anstee has been vocal in the past about the need for government to do more to provide SMEs with financing options.

Of the new scheme, he said: "We look forward to sourcing similar mandates from institutional investors looking for attractive returns from backing UK SMEs."

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send

Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.