BusinessCorporate FinanceTax breaks for SME lenders, urges FPB

Tax breaks for SME lenders, urges FPB

Forum of Private Business calls on the government to encourage alternative lending to SMEs through tax breaks

ALTERNATIVE LENDING options for SMEs would be boosted by tax breaks, according to the Forum of Private Business.

Tax breaks for private lenders and equity investors wold make it easier for SMEs to gain access to finance, the not-for-profit lobby group has claimed.

The FPB wants the alternative lending market to receive a tax boost in chancellor George Osborne’s Autumn Statement next Tuesday. The statement is likely to be a watered down version of the pre-Budget report, which it replaces.

“The forum believes one of the key issues facing the UK economy is a business sector lacking sufficient confidence to invest,” said FPB chief executive, Phil Orford.

“And while the effect of external market conditions is difficult to control, one action government can take is to set out clear financial and regulatory domestic road map in the years ahead. Above all we recommend the government shows consistency, clarity, and certainty.”

The FPB has called for a range of other schemes to be implemented, including: a focus on schools to improve pupils’ employability; help rural businesses receive better banking services; and freeze business rates in April.

Related Articles

The Practitioner: Financing landscape gloomy for small businesses

Business Regulation The Practitioner: Financing landscape gloomy for small businesses

12m The Practitioner
Helical Bar achieves £100m refinancing

Corporate Finance Helical Bar achieves £100m refinancing

4y Kevin Reed, Writer
Growth and financing easier for small business in 2014

Corporate Finance Growth and financing easier for small business in 2014

4y Cameron Roberts
FDs boost TMT start-ups' growth prospects

Corporate Finance FDs boost TMT start-ups' growth prospects

5y Kevin Reed, Writer
IASB changes overshadowed by break-away from FASB

Corporate Finance IASB changes overshadowed by break-away from FASB

5y Rachael Singh, Writer
Anstee: Small businesses need audits to help raise finance

Audit Anstee: Small businesses need audits to help raise finance

5y Kevin Reed, Writer
Businesses look for alternatives to bank funding

Company News Businesses look for alternatives to bank funding

5y Kevin Reed, Writer
HMV issues going concern warning over covenants risk

Company News HMV issues going concern warning over covenants risk

5y Kevin Reed, Writer