Improving access to finance for small businesses

---- UPDATE (9th Aug) - LSE supports bonds initiative: http://www.telegraph.co.uk/finance/businessclub/8684973/LSE-supports-bonds-initiative.html ----

---- UPDATE (19th July) - Article in Business section of today's Telegraph: http://www.telegraph.co.uk/finance/businessclub/8646077/Bond-market-for-small-businesses-proposed.html ----

--- UPDATE (14th July) - My article on Telegraph online: http://www.telegraph.co.uk/finance/businessclub/8636921/Innovation-needed-to-change-the-lending-landscape.html ---

Following my budget speech back in March, I have been working on improving access to finance for small businesses.

On July 19th, I am hosting an event on bank lending in partnership with the Daily Telegraph and Nesta, the innovation Think Tank. The event is to kick-start a consultation on creating alternatives to bank lending for small business. Currently, the banks claim there are not enough good businesses to lend to. And yet scores of good businesses find the banks reluctant to lend, processes too long and fees too high. This is why we need real innovation to change the lending landscape to get businesses the finance they need to grow and create jobs.

The post war era spawned 3i and the early 1990s recession spawned AIM. We need to find new solutions for a post-credit crunch environment, in which small businesses have one of only 5 major banks to choose from. And the purpose of this consultation is to develop policy proposals and contribute to the wider discussion, starting with the views of the entrepreneurs and business owners at the coalface. So, join our experts for an 8.30am breakfast meeting on July 19th to have your say.

An advert for the event appeared on page two of today's Daily Telegraph Business Section: Click here to view the advert

James Hurley, the Editor of the Daily Telegraph's Business Club has published the following article accompanying the advert: http://www.telegraph.co.uk/finance/businessclub/8618902/High-growth-firms-most-likely-to-face-financial-restraints.html

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