This is the latest example of how a business support programme fails to deliver on its potential. This is the latest example of something the government is doing that fails for the same reason as other programmes...
NOBODY KNOWS ABOUT IT
Add this to the Growth Voucher scheme, Growth Accelerator and the renamed version, the Business Growth Scheme, and many more.
When is BIS going to learn that you have to make people aware of something if they are going to make use of it? Small business owners cannot buy into something they have never heard of.
Following last week’s Budget, Boost Capital questions the Government’s commitment to the Enterprise Finance Guarantee (EFG) scheme as latest figures show that it is not reaching or supporting many businesses, with the number of SMEs receiving finance through the scheme dwindling year on year since 2009, falling to a low in 2015. The EFG, which sees the Government act a guarantor to SME loans, will be extended until at least 2018 following last week’s Budget announcement. However, figures from the British Business Bank show that just 446 companies were granted a loan to a total value of £55.7m in the last quarter of 2015. This compares to 2,030 loans drawn between April and June 2009 – at its peak – at a value of £201.6m, but the statistics show that lending has taken a sharp fall ever since.