We need more help

INCREASING numbers of small and medium-sized enterprises in the North East are asking the Government to act decisively and provide greater levels of support to local businesses, according to new research.

A survey by Bibby Financial Services revealed that 13 per cent of these firms in the region would like more access to government support, compared to six percent in Spring 2010.

When asked what the Government could do to help, a loosening of lending criteria and improved credit availability was top of the list (22 per cent).

A further 19 per cent are calling for an increase in interest rates as they are concerned about the effect the current rates will have on inflation, particularly when the economic recovery is still in a fragile state.

Mark Storey, spokesman for Bibby Financial Services in the North East, said: “Access to flexible funding and a smooth cash flow is absolutely vital if firms in the North East are to grow and survive, particularly while the economy is still in a state of flux.

“Smaller firms are the economic engine of the UK that will help drive the economy, create jobs and boost growth.”