A new study by lending website funding circle has found that one in three companies would hire more staff if they could obtain the finance. The company predicts that this would equate to the creation of 500,000 jobs.
A third of employers would increase their workforce by an average of 12pc if their attempts to secure lending were not being stifled, the survey of 500 entrepreneurs found.
Many companies will therefore welcome the announcement that the Government is to make £1 billion available to businesses who have struggled to get finance from the high street banks. The Government hopes that this will help kick start small businesses or help SMEs expand further and employ new staff to help increase the number of jobs available in the private sector.
Abintegro
Oct 12
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