GROWTH AND NEW FINANCE STILL BEYOND REACH OF MOST SMEs

MOST small businesses in the North West believe it will be a year or more before they can enjoy a full return to growth and better access to finance from the banks, according to a new survey  And little more than in 1 in 20 say they have successfully secured finance through the major scheme which was launched to stimulate bank lending to SMEs, the Enterprise Finance Guarantee (EFG).

These are among the findings of the latest quarterly survey of small business owners in England and Wales from Clifton Asset Management (CAM), which provides specialist strategic and financial advice to SMEs.

In the North West some 71% of respondents said they see a return to growth as being at least 12 months away, with only 5% of the view that the process is already underway.  Likewise 57% say they have not detected any sign of an improvement in the lending environment for SMEs, despite the launch by the previous Government of the EFG. Only 7% say they have managed to secure finance through the scheme, with another 5% having had their application rejected.

“The UK has been lagging behind other major economies in emerging from recession and all the evidence suggests that the banks remain reluctant to lend.  Our latest survey appears to confirm this gloomy prognosis, with a solid majority still of the belief that it will be well into 2011 before small businesses can expect to see a more benign bank lending environment.   Similarly, it is clear from our research that the EFG has thus far failed in its stated aim of providing a mechanism for guaranteeing lending and new facilities for small businesses.”  says Neil Greenaway, managing director at CAM. 

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Elections watchdog calls for action to ensure voter confidence

THE Electoral Commission, the independent elections watchdog, has published its statutory report on the UK Parliamentary and English local elections on 6 May 2010. Although the Commission found that the elections were well run in the vast majority of constituencies, it recommends immediate action to ensure voter confidence for future elections.

The Electoral Commission’s public opinion research found that while 66% of voters were confident that the elections were well run, 30% were not very or not at all confident. In 2009, only 4% of voters said that they were not confident that the elections that year were well run.

The report outlines an agenda for the UK Government that needs to be implemented over the next 5 years, aimed at ensuring future confidence in the electoral process. It includes calling on the UK Government to:-

► Bring forward a comprehensive electoral modernisation strategy for future elections. This should include lengthening the timetable for general elections and improving voting opportunities for service personnel and overseas voters. The modernisation strategy should also address what role, if any, advance voting might play and also if there is a case for requiring proof of ID at polling stations in Great Britain.

► Bring forward a comprehensive plan to ensure the effective management and delivery of future elections This should include ensuring greater co-ordination for the delivery of elections and introducing mechanisms to hold Returning Officers to account for the delivery of their statutory functions.

► Implement individual electoral registration in Great Britain in a way that maximises the completeness and accuracy of the electoral register.

The report also reiterates the Commission’s urgent call for the Government to change the law as soon as possible to make sure voters who are queuing at polling stations at 10pm are able to vote at all future elections.

Jenny Watson, Chair of The Electoral Commission, said:- “We are lucky to have inherited a trust based system from previous generations. But this cannot endure for ever. The basic building blocks of electoral administration need long-term support and reform in order to ensure that voters can be sure that their vote counts. Voter confidence is fragile and may take time to re-build after high profile problems like the ones experienced at some polling stations at 10pm.  In the vast majority of constituencies elections were well run – but this is despite the system, not because of it. We have outlined in this report the steps that Government and Parliament need to take to ensure the way elections and electoral registration are run is fit for the 21st century.  Some changes can be made quickly, others will take more time. We will continue to say where we think more needs to be done and report back on progress after next year’s elections and proposed referendums.”