The number of UK companies being granted business loans and mortgages has plunged by 46 per cent since 2007, according to commercial credit reference agency Graydon UK, which researched the number of successful company financing deals registered at Companies House over the last ten years.
The Liberal Democrats’ election pledge to re-establish the UK’s network of regional stock exchanges should be adopted by whichever party forms the next Government in order to provide an additional source of funding for businesses, says commercial credit referencing agency Graydon UK.
One in five small and medium sized businesses who have been refused funding do not know why their bank rejected their loan application, according to research carried out by commercial credit reference agency Graydon UK and business support organisation the Forum of Private Business (FPB).
New research released today reveals that, with banks becoming more reluctant to lend to small firms during 2009, a growing number of small business owners turned to family and personal credit cards to fund their businesses.
David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.