CFI: NACFB
500,000 British jobs stifled by lack of funding by Chris Ferguson, NACFB
National Association of Com- mercial Finance Brokers patron Funding Circle has claimed that 500,000 UK jobs have been stifled by the lack of funding for the SME com- munity across the UK. Te research goes on to suggest that dynamic small business- es that are looking to expand are being held back by the tra- ditional lending routes being limited.
SMEs seek to grow Te survey undertaken by Funding Circle Funding for Growth Study questioned 500 small businesses across the UK, the first survey of its kind designed to assess the impact of restricted funding from mainstream lenders on SMEs. 33% of the businesses surveyed said that they would
increase staff numbers if they could obtain finance whilst 31% would seek to grow their business more generally. James Meekings, co-found-
er of Funding Circle, said: “With the right support, these frustrated businesses could be the future drivers of our economy, with the ripples of job creation being felt throughout UK industry. Not only would the economy feel the direct impact of a boost in employment, but a quar- ter would also use finance to increase stock, supporting businesses throughout their supply chain. “Instead,
they risk be-
coming a lost generation of “Caged Tigers” stifled by a lack of business finance.” Adam Tyler, chief execu-
tive of the NACFB, said: “Tis news does not come as a par-
ticular surprise and it is some- thing that
the NACFB has
been working hard to bring to the attention of Westminster.
“Less investment in the SME com- munity leading to less productivity, less employment and less econom- ic growth”
Government projects such as the Genesis Initiative has enabled the NACFB to give government an accurate pic- ture of the funding levels in the UK. We have also worked tirelessly to promote the di- verse range of alternative
funders on the NACFB panel and the ways in which they can help move the UK econo- my in the right direction.
Funding lifeline “Lack of
funding for SMEs
across the UK has a wide range of implications and the knock on effect for the wider economy is obvious; less in- vestment in the SME commu- nity leading to less productiv- ity, less employment and less economic growth. “As an association we will
continue to work closely with Westminster to give a true picture of the funding prob- lem; we will also continue our work with SME trade bod- ies across the UK to get the message across that there are funding lines available and an NACFB broker can help busi- nesses to procure these lines.”
NACFB hosts regional workshop and drinks
Te NACFB held its regional workshop and drinks re- ception on the 26 Septem- ber at
the new London Of-
fices. Adam Tyler, CEO of the NACFB, gives us a quick overview of the day: “Te NACFB’s regional
workshop on the 26 Sep- tember was a great opportu- nity for NACFB members to come along and meet many of the active lenders on the
NACFB’s panel as well as af- fording them the opportunity to see the new NACFB offices. Te move to London has gone as smoothly as possible and we were fortunate to have a fully functional office for the day. “With over 60 delegates at-
tending on the day and a di- verse range of speakers from 15 funders of the NACFB patron’s panel, we feel the day
All in all, a great way to welcome the NACFB to the capital
was a great success. Te feed- back was positive as it always is. We would like to thank all of the exhibitors for their at- tendance as well as the del-
egates who came along and we are happy that the day was informative and productive. “Te NACFB drinks re-
ception in the evening was a nice way to welcome the asso- ciation to the hub of the UK’s commercial market and it was fantastic to see some old and new faces from the indus- try – all in all, a great way to welcome the NACFB to the capital.”
46 MORTGAGE INTRODUCER OCTOBER 2012
www.mortgageintroducer.com
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52