Business minister: Small firms are 'critical' to the economy

Date: 29th September 2010

Small business owners operating in the UK could be set to find funding easier to access in the near future.

Business minister Mark Prisk recently met with finance experts in order to discuss how funding can be made more accessible for the UK's smaller enterprises.

The meeting follows the closure of the consultation period for the government's Green Paper on small business funding.

According to the Department of Business, Innovation and Skills, the discussion market the first stage in attempting to make some of the ideas put forth during the consultation a reality.

"Small businesses will be critical to the economic recovery and helping them access a range of finance options is essential for those firms looking to expand and grow," Mr Prisk commented.

"We want to work with business to find the best solutions for increasing finance to small firms, who have previously relied on banks for their finance."

Posted by Thomas Fletcher