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Good news for small businesses
The new year brings good news for owners of painting and decorating firms, as a Bank of England report states banks are starting to increase their lending to small businesses.
During the credit crunch, banks held back on lending cash to businesses with an annual turnover of less than £1million, but the 'Credit Conditions Survey', which was released on 6th January 2011, shows things are finally looking up. So for small firms that are in need of a cash injection to grow their business, now's the time to start talking to your bank manager.
The recent report also said that banks are continuing to steer away from loaning to high risk customers - so make sure your figures are in order before making that appointment!
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