PBR in depth: Extension to small firm loan guarantees
The government is to offer more small businesses easier access to finance and business services including an extension to its Small Firms Loan Guarantee Scheme.
In the pre-Budget report, chancellor Gordon Brown introduced a range of options to help smaller firms. This included an increase in the number of companies eligible for the guarantee scheme. Across the country’s 2,000 enterprise areas, the government claims that an extra 25% of businesses will be able to join the scheme from April 2003.
This will add to the demonstration projects just starting around the country designed to help small companies understand and access the different finance options available to them. These projects are also to be reviewed and extended if they prove successful along with other advice and training schemes that are to be launched for small businesses.