Feeds

Coalition fails business on banks, says survey

Really?

Internet Security Threat Report 2014

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. ®

Intelligent flash storage arrays

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The hidden costs of self-signed SSL certificates
Exploring the true TCO for self-signed SSL certificates, including a side-by-side comparison of a self-signed architecture versus working with a third-party SSL vendor.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.