Baker Watkin chartered accountants and chartered tax adviser |
Home | About us | Contact us | |
|
|
|
Baker Watkin
Middlesex House
Rutherford Close
Stevenage SG1 2EF
t: 01438 750555
Project Merlin - credit due for the banks?
The five major banks have agreed to commit around £190bn of credit available to businesses in 2011, of which £76bn will be made available to smaller businesses. SME's will benefit from a 15% increase in lending compared to 2010.
A £1.5bn business growth fund will be established, while the banks must support the Enterprise Finance Guarantee Scheme. The Scheme intends to make available working capital or growth finance where the business would normally fail to meet criteria to receive funding. A pre-financing dialogue will be entered into 12 months before any loan comes to an end, and they must help improve access to trade finance.
At Baker Watkin we have the skills to help you in assessing the amount of working capital and growth finance you need as well as access to funders giving you the opportunity of exploring these avenues.
If you feel that I can help you or any of your business colleagues, then please give me a call on 01438 750555 and I would be happy to speak to you about your problems.
Download this briefing as an Adobe PDF document
The information contained in this briefing is based on information available as at 24 February 2011 and may be subject to amendment. It is written as a general guide and is not a substitute for professional advice. You are strongly recommended to obtain specific professional advice from us before you take any action. No responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this briefing can be accepted by Baker Watkin or the partners.