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| SMEs 'need more choice in banking sector' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Tuesday, 21 September 2010 00:00 |
 Small and medium-sized enterprises (SMEs) offering roles such as finance jobs in London require more choice in the banking sector if they are to recover fully from the global economic downturn.That is according to John Walker, national chairman of the Federation of Small Businesses (FSB), who has said that the government needs to encourage greater competition in the financial market so that the nation's smaller companies can flourish after the recession. More than 40 per cent of such organisations use a bank loan, overdraft, factoring or leasing as a major part of their funds, the FSB stated, but many are now being unfairly penalised by the presence of high interest at a time when the country's base rate is stuck at an all-time low. Mr Walker commented: "If the government truly believes that the private sector is going to help avoid a double-dip recession, it needs to consider alternative sources of finance." Meanwhile, the Chartered Institute of Personnel and Development stated recently that the private sector is now enjoying a "mini jobs boom". Posted by Daniel Frost 
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