Govt launches small business finance inquiry

Date: 3rd June 2009

The government has launched an investigation into whether further measures are needed to help small firms access finance.

Led by venture capital expert Christopher Rowlands, the inquiry forms part of Westminster's New Industry, New Jobs plan, which is focused on preparing small businesses for the economic upswing.

The government currently oversees a number of small business capital measures, such as the Enterprise Finance Guarantee scheme.

Business secretary Lord Mandelson said: "We have taken action to help businesses access short-term finance to survive the global downturn and to build our economic future.

"Our priority will be to ensure that high-growth businesses, which will be very important for the economy, are able to secure the capital they need."

According to the Confederation of British Industry's (CBI) latest Access to Finance survey, more businesses reported an improvement in credit supplies during the past three months.