Treasury Select Committee publishes report on SME Finance
Today the Treasury Select Committee published its report on SME Finance, as part of its inquiry into sources of funding for SMEs.
Their inquiry looked at three main themes – funding options available to SMEs, their ability to resolve disputes and access to fair and reasonable compensation when they borrow money, and the regulation of SME lending.
As part of the inquiry, Keith Morgan, CEO, British Business Bank gave evidence to the Committee in May 2018 on a number of topics including the current lending landscape of SMEs, regional differences in access to and demand for finance, and patient capital.
The report highlights the role of the British Business Bank in assisting smaller businesses by building awareness and understanding of the financing options available to them. The report concludes that “As the centre of expertise on smaller business finance in the UK, the British Business Bank has an important role to play, and its Business Finance Guide and Finance Your Growth initiatives are to be welcomed.”