AUTUMN STATEMENT SENDS A POSITIVE MESSAGE TO UK SMEs
Commenting on the SME reforms announced in the Autumn Statement, Carl D’Ammassa, Managing Director of Asset Finance, Aldermore, said:
“The Chancellor’s commitment to easing business rates and extending the package of measures to encourage lending sends a positive message to the UK’s hardworking SMEs.
“Easing business rates will help to create a more level playing field between digital businesses and those firms that are keeping our local high streets alive. It is important that we continue to reassess the fees imposed on businesses as the environment they operate in changes. Today, the Chancellor showed a clear commitment to ensuring that competition in the SME market remains rife.
“The package of measures announced to further encourage SME lending will also be welcome news to those smaller UK firms which hold huge potential. The Government and lenders need to work together to do everything we can to ensure that SMEs can access the funds they need to grow. Over the past five years many SMEs have struggled to access the finance they need and I am confident that the Government’s commitment to easing that burden will not only further boost the level of funding available but, crucially, will also raise awareness amongst SMEs that there are banks wanting to lend. It is vital that businesses know even if they are declined for a traditional bank loan there are other options available.”
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Notes to Editors:
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