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| Recruitment firms 'need more financial support' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Wednesday, 25 May 2011 00:00 |
 Major financiers in the UK have been urged to play their part in supporting recruitment firms looking to place professionals in roles such as finance jobs in London.The Recruitment and Employment Confederation (REC) has stated it is vital for recruitment agencies to be loaned sufficient funding as well as small and medium-sized enterprises (SMEs) in the aftermath of the global economic downturn. It was revealed recently that the five institutions involved in the Project Merlin initiative to increase lending levels to smaller companies missed their targets for SMEs by £2 billion in the first quarter of 2011. Although the British Bankers' Association claimed the figures revealed by the Bank of England were "encouraging" overall, Neil Smith, chair of the REC, has insisted that recruitment companies need more support. "A steady stream of bank funding over the next few years will therefore be vital if the recruitment industry is to continue its recovery from the recession," he added. Posted by Daniel Frost 
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