4R Blog

RSS Feed

Welsh government to launch business lending review

Date Added: 16/01/2013  

The state of business lending in Wales is set to be investigated by the government in the country, which is launching an independent review into the matter.

A report will be published that seeks to reveal whether or not the high street banks in the nation are meeting the funding needs of Welsh small to medium-sized enterprises (SMEs).

According to a report by Wales Online, an announcement is expected to be made by the government regarding business lending later today (January 16th).

It is believed business minister Edwina Hart will announce that Western Mail business columnist Professor Dylan Jones-Evans of the University of Wales will lead the review.

Others who are set to take part in the investigation include John Antoniazzi, former partner at Deloitte in Wales, Katy Chamberlain, chief executive of Business in Focus, and former head of business banking at HSBC Bank Huw Morgan.

Professor Phil Molyneux - dean of the College of Business, Law, Education and Social Sciences and professor of banking and finance at Bangor University - Chris Nott, chair of the Financial and Professional Services Sector Panel and managing partner of Capital Law and Professor Robin Jarvis, head of SME affairs at the Association of Chartered Certified Accountants and professor of accounting at Brunel University, will also take part.

Managing director at Afonwen Laundry Mark Woolfenden and Professor Stephen Thomas, professor of finance at the CASS Business School at City University London, will be involved in the drafting of the report as well.

According to Aviva's bi-annual SME Pulse, the results from which were revealed earlier in the month, over two-thirds (65 per cent) of firms with 26-100 employees reported that business lending schemes targeted at SMEs are the most important factor in influencing business confidence.

Some 41 per cent of respondents to the study said they believe that economic statistics can have a measurable financial impact on business performance.

Need advice on Winding up Orders? Call 0800 9020123

Posted by Julie Cutts

Get the Help You Deserve

0800 90 20 123

Urgent Help Call 24/7

020 7183 2606

We'll Call You

Request a Callback