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Founder of recruitment company welcomes SME support from Government

Founder of recruitment company welcomes SME support from Government

Beatrice Bartlay, Founder and Managing Director of 2B Interface, a five year old staffing and recruitment company, has welcomed the new government measures for supporting the five million SMEs in the UK announced yesterday by Business Minister Mark Prisk MP.Beatrice comments: The five million SMEs in the UK are integral to the countrys economy as they account for 60 per cent of jobs and half of GDP. As Managing Director of an SME myself, I support the polices announced by the Government which are to make it easier for SMEs to work with the public sector, improve access to finance and permit social tenants to start up businesses at their homes.Financing a Private Sector Recovery, a Government consultation paper which was launched in July, was unveiled yesterday and outlined the Governments stance toward SME finance. It stated that the Government will continue with Enterprise Finance Guarantee (EFG) for the next four years, making around 2bn available to viable small companies without a credit history or collateral, offering support to 6,000 SMEs a year. It was also announced that the Government will invest 200 million in Enterprise Capital Funds supporting equity investments in the highest growth potential businesses over four years. Lastly to encourage business angel investments, the Government is putting in place a framework linking business angels with the Governments SME investment arm, Capital for Enterprise, for a co-investment funds as part of the Regional Growth Fund to assist angel investments into high growth potential early stage SMEs, especially in areas worst affected by public spending cuts.Beatrice added, These initiatives will be welcomed by many SMEs who struggle in their first years of operation. Greater access to finance would have helped my business when one of our major clients went into administration three years ago. It is vital the Government encourages SMEs to grow while offering them improved access to finance. Beatrice is also delighted that the Government itself is taking its responsibilities toward the SME sector seriously as Minister Mark Prisk outlined how he saw the public sector working with SMEs.Beatrice stated: Cash is king in todays economy. Positive cashflow is vital for small businesses, which do not have vast resources to fall back on. SMEs should not be treated as extended overdraft facilities for the public sector. So the news that 80% of prime contractors will be paid within 5 working days and that all contractors will have to pay their suppliers within 30 days should be music to the ears of the sector.

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