News: Small Firms Back Government Business Bank

Despite recent research suggesting small businesses don’t trust government funding schemes, it seems the proposed ‘Business Bank’ is an attractive concept to small business owners.

A new survey from the Open University and the Finance and Leasing Association (FLA) reveals that 48% of respondents think the Bank will be a positive move, compared to 30% who feel it won’t be relevant to their industry and 22% who were unsure. This is in stark contrast to recent research, where 90% of respondents said government funding initiatives are of no help to them.

When asked how they would like the Business Bank to be able to help them, 64% said that adequate access to finance during economic downturns is a priority. Longer-term finance such as ten year loans were important to 60% of respondents and 59% said it was important for the government to provide support for commercial providers to lend more easily or more cheaply.

Do you think the proposed Government Business Bank will help you invest further in your business? Leave us a comment to let us know your thoughts.

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Kasey writes about the latest small business and website news for bOnline. Find Kasey on Google+, or follow bOnline on Facebook, Twitter, LinkedIn and Google+

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