Feeds

Coalition fails business on banks, says survey

Really?

Reducing security risks from open source software

British businesses have seen no changes in bank attitudes to lending to despite the Coalition's claims that it had brought the banks into line.

In February, "Project Merlin" promised to increase lending to smaller firms by £10bn to £76bn as part of a wider deal with the banks, but a survey by Hotfrog found three-quarters of firms had seen no change in attitudes.

Researchers spoke to 500 companies and found 75 per cent had seen no change in banks' attitudes to lending. Some 70 per cent of respondents said better access to funding would allow them to expand their businesses and hire more staff.

Around 41 per cent of business owners said they'd use their savings if they needed fast access to finance.

Project Merlin was signed up to by the main four High Street banks and Santander. It supposedly means that chief executives bonuses will be, in part at least, decided by how much they lend to smaller firms.

The deal also covered controlling growth in bonuses and compulsory investment in the "Big Society Bank".

The Bank of England is monitoring how the agreement is followed and is due to report shortly.

Regular readers might be suffering from deja vu: Lord Myners promised more lending to small firms back in 2008 when the multi-billion pound bank bailout was first announced. ®

Seven Steps to Software Security

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.