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Tuesday 11th of January 2011
November 16, 2009    

BCC survey claims firms still ‘struggling to get finance’

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by Kay Murchie

Business group, the British Chambers of Commerce (BCC), is claiming that small and medium-sized firms are still struggling to access finance.

The report comes despite the £200 billion injected into the UK financial system to boost lending.

According to the BCC, one third (33%) of companies surveyed said that accessing finance had been more difficult over the last three months - a deterioration on the 20% reported in June.

BCC director general, David Frost, comments: “Our latest survey results show that the biggest issue facing British businesses is still demand for products and services.”

“It is clear that the huge sums that have been injected into the financial system by quantitative easing are still not reaching small and medium-sized businesses in anything like the scale required for business to invest for future success,” added Mr Frost.

The BCC questioned 400 firms about the lending situation in the UK over the past three months and the survey was carried out for its latest Monthly Business Survey.

The findings from the BCC come after a report by the British Library’s Business & IP Centre said newly established small companies should be given some form of tax break for the first year or two of business.

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