Enjoyed listening to a representative of small businesses yesterday as he lampooned the High Street Banks and the Government for starving small businesses of cash.
He stated that Project Merlin to agree loan quota’s was merely an agreement between politicians and the Banks to try and show that everything was fine in the lending sector. It had nothing to do with helping businesses.
30% of small businesses reported that they had applications for loans to grow their business turned down.
A higher percentage which I can’t remember clearly stated that their business growth plans were shelved because they could not get funding.
Somewhat astonishing when you consider we are desperate to climb out of recession right now.
So not only did the greed of the Banking community bring the British economy to it’s knees it is also now strangling the recovery by their desperate desire to maintain their own profits and bonuses at the exclusion of everyone else.
But along then comes Bank of Dave …
Channel 4 have commissioned a tv series to be filmed spring 2012 to follow millionaire entrepreneur and avid Burnley fan David Fishwick trying to take on the Banking giants head on by setting up his own bank to lend to local Lancashire businesses.
Good to know that the British entrepreneurial spirit is not dead and there are still people around who want to do something for others and not just line their own pockets.
Looking forward to watching how he gets on putting Burnley on the map:
http://www.dunover.com/investments/index.php?topic=1258.0
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