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Expert panel to set out finance options for businesses PDF Print E-mail
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Latest Recruitment News - HR and Recruitment Legislation News
Written by DirectNews Feed   
Thursday, 15 December 2011 00:00
Expert panel to set out finance options for businesses 

A panel of experts is to be set up to examine the challenges facing businesses in diversifying their finance.

It forms part of the government's plans to boost different options for businesses, such as debt and credit products, corporate bonds and crowd-funding.

Launching the 'taskforce', business secretary Vince Cable stressed the number of innovations coming onto the market that provide alternatives to bank lending.

Indeed, people in finance jobs in London may already be aware that more businesses are selling bonds directly to their customers, while peer-to-peer lending allows savers to invest directly into businesses.

"I want to investigate and dismantle any barriers to these and future innovations," Dr Cable said.

"We have secured a rise in new lending from the biggest banks this year and credit easing is designed to provide another immediate boost," he added. "But I want to see as much competition in the market as possible and for businesses to have access to a wide range of finance sources."

The move has been welcomed by John Cridland, director-general of the Confederation of British Industry, who said that smaller businesses can grow if they are provided with long-term capital to support their investment.

Posted by James StrangADNFCR-3012-ID-801240630-ADNFCR
 

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