Readers unconvinced over Cable’s business bank

ACCOUNTANCY AGE READERS are not convinced a state-sponsored business bank proposed by business secretary Vince Cable will provide small and medium-sized enterprises with the help they need.

Some 38% of the 50 readers polled felt the new body would do nothing of benefit for SMEs, while 16% said it would not do enough. About 22% felt the institution would provide some degree of help, while just 14% were sold on the plans. About 10% were not sure on the bank.

The proposals put forward by Cable (pictured) would see a bank established to provide help to SMEs under the umbrella of one organisation, rather than the current situation where applying for funding for activities such as employing young people, starting your own business, cheap loans and export support must be done through various different bodies.

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