Small businesses across the UK were given a boost recently, as the European Investment Bank’s (EIB) announced it would provide over £700m of funding to nearly 3,000 small firms through participating national banks.
The effectiveness of the European Investment Bank’s (EIB) recent announcement is yet to be seen and its questioned how many UK businesses will actually gain access tot he funding.
Together with a range of other measures being implemented by the government to support UK businesses, this scheme is designed to ensure that small businesses in the UK continue to have access to the best support available. However, the number of firms that will actually be successful in accessing these funds remains questionable.
One issue is that the funding is given on a matched basis, which means they will have to dig into their own reserves and as we know, cash is not easy to come by at present.
For more information on how Enable Business Finance can help your business succeed and attain the correct business finance your company needs please contact Phillip Evans.