Entrepreneurs don’t believe that the Business Bank will make much difference

Most entrepreneurs believe that the Business Bank that was created by the Government will not be able to make that much of a difference when it comes to UK bank lending to SMEs. Most entrepreneurs think that it will not make that much of a difference to lending with 85% believing that the concept will require more seed capital and firepower in order to really make it work. The survey was conducted at a business event held by the entrepreneur network E2Exchange.

In addition, many believe that the state bank should form a relationship directly with SMEs in order to make the funding and lending measures much more effective. As part of the measure employees would be allowed to swap some employment rights for shares, but even though the House of Lords voted on it only about 10% of SMEs actually support the measure.

Another measure that is being introduced to support SMEs is a cut in the National Insurance as SMEs are firm in listing it as one of the major issues that surround expansion and recruitment plans. Over 70% believe that businesses would be performing better if there was Conservative government in place instead of a Coalition.

CEO of E2Exchange Shalini Khemka stated that it was great to offer some of the top entrepreneurs in the country a chance to debate what type of issues are important to them when it comes to their business.

Khemka added that it is important that all business owners feel that their point of view is being valued by the senior figures that make decisions about business in the Government. This should help both the entrepreneurs and the Government that attended the conference continues to have an important influence in future policy.