Small Businesses Debate
7th September 2010
During a Parliamentary debate on the financing of small businesses, Anne Marie Morris highlights the difficulties faced by people wishing to start up a business.
Anne Marie Morris (Newton Abbot) (Con): I agree with my hon. Friend; he makes some good points. In my constituency, there are a number of individuals who would like to start up a business, and I am not sure that we have really looked at that issue. Such people find it even more difficult to get access to funding. Some of the high street banks-Barclays is a case in point-have come up with new ideas and will lend money even to those who have been bankrupt in the past. However, that does not seem to be making a difference to new businesses, and I would be grateful if the Minister would address that problem as it is a key issue.
Jeremy Lefroy: My hon. Friend makes a powerful point that I will address in a moment. I entirely agree with her point about access to finance for new businesses. I conclude that in general, new businesses do not consider approaching a bank because they believe that it will be a waste of time or that they have only a small chance of success.
