Gordon Brown seems to be doing his best to serve small businesses. Yesterday, we reported on his support for Global Entrepreneurship Week. Today, there's word that the UK's prime minister has spoken out in favor of getting small businesses more bank loans.
All sorts of small business organizations have struggled to make progress on this issue. The Federation of Small Businesses and Forum of Private Business, in particular, have been issuing press releases left and right.
So it's nice to hear that, according to Andrew Porter, Brown admitted yesterday, "The issue now is how banks will ensure funding to small businesses and homeowners."
He then continued with the really interesting stuff, saying, "We are in discussions with the banks about how HBOS, Lloyds TSB and Royal Bank of Scotland can achieve their promise for lending at the level of 2007 and, second, how all the banks resume lending."
Naturally, discussions aren't the same as actions, and when politicians are involved, discussions can last years and still have no effect on the real world. But this is an encouraging step, anyway, and if the UK continues on this path, governments and banks in other countries may well follow.
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Small Business and Gordon Brown
This is a joke. Gordon Brown is the enemy of small business in the UK.
He has upped taxes. Upped regulation. Destroyed the private sector pension industry. And he was the guy in charge of UK finance for 11 years whilst the banks when on their manic spree.
Tell Gordon Brown to leave small business alone. From my experience, UK banks don't do a bad job for good small businesses.
I have to agree with the
I have to agree with the comment above. Gordon Brown is full of hot air. Lending may help some, but legislation on payment terms would help a wider range of SMEs. The latest cuts on VAT show just how out of touch Brown and the government really are, by adding extra burden on those it seeks to help!
Talking, now that's what Gordon is good at!!
Brown is a fool
Brown has done more damage to UK business than anyone can calculate - and the entire problem was because of Brown's actions since 1997.
Yes, there is a global financial problem, but every other country can seem to deal with it much better than the UK is. Our ratings are twice as bad as the USA because while Brown encoraged us all to spend, spend, spend - other countries were spending their boom time money on paying back the loans from previous recessions!
For him to be telling us how he is trying to get the banks to lend to businesses demonstrates he knows nothing about business. Would you supply your customers with goods if you were not sure they could pay it back? Your sales team will be cursing you, but in a recession, its the strength of the accounts team which keeps a business in the black! That is what the banks are doing now.
It is bad in the short term, and people will be going bust, but that is what recessions are about - it is the firestorm of the business world - removing the dead wood and giving the fresh seeds some space to breath!
In the long term, Brown will be trying to nationaise every industry and forcing them to ignore the economic reality. Hopefully the country will get a chance to vote him out before he bankrupts the country!
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