Could facilities management and finance from banks help firms to invest?
April 28th 16:01 Cost Management
Businesses using effective facilities management in order to reduce their operating costs could be among those to be encouraged by recent comments from the British Bankers' Association (BBA).
According to the organisation, four out of every five business loan applications are being approved by UK banks.
This comes despite the perception that British financial institutions are suffering a "credit squeeze".
Businesses could be further inspired to seek a bank loan or overdraft facility after Simon Pegge, chairman of the BBA's small business panel, said firms can also benefit from reduced costs brought about by low interest rates.
Delivering a speech at a recent Institute of Chartered Accountants in England and Wales event, Mr Pegge commented: "Bank lending to small businesses is one of the most important services banks undertake but it's ultimately driven by demand for finance and the quality of applications.
"Naturally when sales fall, the demand falls for finance to fund working capital and fixed asset investment - and affordability is stretched."
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