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Nick Harvey MPStanding up for North Devon since 1992 |
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ENCOURAGING NEWS FROM PRIVATE BUSINESS
April 21, 2009 10:40 AM
Nick says: 'The latest news from the Forum of Private Business (FPB) is encouraging, though reluctance by the banks to grant credit and increased bank charges are still seen as a problem.'
The FPB reports:
'There are some positive aspects to the results of this month's panel survey, most noticeably that more businesses reported an improvement in their markets than deterioration.
'Access to finance follows a similar trend, with some businesses having grounds for optimism as they see that money is getting through to businesses. However, others are facing closure due to the intransigence of the banks in granting extensions or calling in their loans.
'The overall picture is consistent with a degree of stabilisation returning to the lending markets, although there is still a feeling that the banks have limited resources. A small minority of businesses are beginning to indicate frustration at the inability of the banks to provide the resources they need to enable them to take advantage of opportunities in the marketplace.
'Banking charges have increased significantly over the six months that the Panel has been in existence, with the average increase estimated to be £28 per month. Based on data from the Banking Industry Group (BIG) from 2007, this is an increase of between 15 and 20%.'
Nick adds: 'Clearly the economy far from out of the woods yet, even the Minister for Business will not commit himself to talk of an up term - but their does seem to be some grounds for optimism. Certainly in Barnstaple a number of pubs have re-opened which can be seen as a positive economic indicator and I am keen that the regeneration momentum across North Devon is not lost.'
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