SMEs to Give Evidence on Availability of Finance

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SMEs to Give Evidence on Availability of Finance

Mike Symes - Tuesday 23.06.09, 09:33am

Small and medium sized businesses have been invited to give evidence in a review on the availability of finance.

According to the newly formed Department for Business Innovation and Skills (BIS) the review will determine whether government intervention is needed to ensure adequate finance will be available to firms as the economy improves.

As well as small businesses, the government has extended the invite to contribute to the Rowlands Growth Capital Review to banks, industry representatives, regional agencies, venture capitalists and academics.

BIS said the period immediately following a recession is usually when small and medium sized businesses find it most difficult to access long term growth finance. However, it is also when demand for this type of finance is strongest.

Commenting on the launch of the review, business secretary Lord Mandelson said: “Small businesses will play an important role in the recovery of the British economy. These businesses now have the opportunity to contribute to our thinking on the frameworks we will need to put in place for a competitive, thriving market.”

Christopher Rowlands, who is leading the review, said: “We are keen to hear directly from businesses to ensure our recommendations reflect their needs in an appropriate way.”

Businesses that wish to contribute can visit the Department for Business, Innovation and Skills website at http://www.berr.gov.uk/files/file51817.doc.