Archive for May, 2014

MCA urges Government to target support for small firms

The Management Consultancies Association (MCA) has recommended that the Government  develops a better understanding of smaller companies, and to target its policies for growth and support with more effect to ensure tax, growth and regulatory programmes are aimed at the needs of companies with  potential for growth. The MCA has also suggested the development of a bespoke regulatory timetable for smaller companies, a review of Government awareness of business needs, and the consolidation of various support funds into a single funding pot.
Read more about the MCA recommendations at:
http://www.mca.org.uk/news/think-tank-recommends-better-targeting-of-government-support-to-smes

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Accountants call for improved support for smaller firms

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Accountants reporting to the Treasury Select Committee’s investigation into lending to small and medium-sized companies have recommended that the Government  improve support for smaller firms and publicise financial support schemes more widely. According to Peter Hollis of accountancy firm Hollis & Co, and Chris Lane, partner at Kingston Smith, banks frequently cancel loans or enforce higher rates of interest on small companies  if they had reported a downturn in sales, or due to changes in asset valuations by risk-averse bank surveyors, for example relating to family homes provided as security. It was also reported that some Government initiatives are under publicised, such as the Better Business Finance appeal process, which assists smaller companies that have had an application for bank funding refused. The accountants have also called for the Government to launch a capital lending scheme for smaller companies at preferential long-term interest rates.
Read more about the inquiry at:
https://www.accountancylive.com/firms-call-government-improve-sme-support

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