SME lending growth for UK
Since the recession of 2006, small and medium-sized enterprises (SMEs) in the UK have been largely unsucessful in their attempts to secure finance. The annual British Business Bank’s Small Business Finance Markets Report, however, has recorded a growth in SMEs lending for the first time in ten years.
Around two-thirds (70%) of equity funding was granted to London-based (including southeast of England) SMEs, although data shows that lending has been distributed more evenly.
Chief executive of the British Business Bank Keith Morgan said: “While there are encouraging signs that volumes are up and alternative finance markets are thriving, there remain areas that still require attention.”
Meanwhile, Small Business Minister Anna Soubry said: “Even though the lending landscape is improving, I’m well aware access to finance remains a big issue and want to see even more help for small firms looking to invest and create jobs for people.”
Horizon 2020, the EU framework programme for research, growth and innovation, is defined by the Commission’s website as: ‘a means to drive economic growth and create jobs, Horizon 2020 has the political backing of Europe’s leaders and the Members of the European Parliament. They agreed that research is an investment in our future and so put it at the heart of the EU’s blueprint for smart, sustainable and inclusive growth and jobs.’
EU contributions to SMEs through the Horizon 2020 programme have also risen since its previous incarnation, the Seventh Framework Programme, from around 16% to just over 20%.
