Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

FSB calls for £1 billion survival fund for small businesses

The federation of small businesses (FSB) has called for a new £1 billion 'survival fund' to help save the industry, ahead of a critical meeting between the Chancellor and the banks today.

Alistair Darling and the Business Secretary Lord Mandelson will today urge the bosses of Britain’s banks to increase small business lending to last year’s levels, amid concerns that a lack of investment will cost thousands more jobs in the sector.

The government has already proposed a £350 million package to help improve training and provide quicker access to government funds. However, the FSB has asked the government to go further with the creation of a new £1 billion Small Business Survival Fund, which would be open to all small businesses.

Last week, the British Shops and Stores Association (BSSA) chief executive John Dean also called for banks to maintain existing overdraft and lending facilities.

There are about 4.5 million small businesses in the UK, employing around 14 million people.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.