preview

Small Business Credit

Better Essays
1) Introduction
We have done our best for the UK economy; key statics show our performance over the period of our regime. In 2007, when we took over sovereign debt crisis were knocking at our doorsteps. We needed to introduce new banking reforms to kick back that double dip financial recession and to retrieve our economy.
We have changed our lending pattern to save taxpayers money to boost our economy.
Key reforms are as follows 2) Provision of small business credit. a) Department of business innovation skills
We realize that SME’s are crucial for UK economy, In first quarter of 2013 there were around 4.9 million businesses were private, among those 99.9 % were SME’s. Almost 44% of SME’s are using external finance; reportedly bigger SME’s are using more external finance.
According to BIS survey, most of SME’s are not using direct loan they use other forms of finance, like lease, hire purchase, invoice finance etc.

b) Big society bank now known as big society capital group. Prime Minister, David Cameron, said:
“When I announced the idea of a Big Society Bank, I wanted to help social enterprises and other groups to grow and expand their vital work. I am delighted that with today’s announcement of the organisation’s first investment, this vision is becoming a reality”.


Basic structure of Big Society Capital bank

Merylin Banks

Big society trust

Charitabe Foundation

operating company

CLS

Big Society
Get Access