The Quoted Companies Alliance, the representative body for the UK’s small and mid-cap quoted company sector, welcomes the Chancellor’s announcement in the Autumn Statement to set up an industry working group on non-banking lending availability to mid-sized businesses.
According to the Autumn Statement, this industry working group will be run by the Department of Business, Innovation and Skills and will explore how to further develop access to bond issues and other non-bank lending options for SMEs and mid-sized businesses.
Mid-sized companies’ access to debt markets is an issue that the Quoted Companies Alliance, along with other leading industry groups, has been promoting throughout Government and industry in an effort to help improve access to finance for these businesses.
Tim Ward, Chief Executive of the Quoted Companies Alliance, commented: “The Chancellor’s announcement to develop a working group focused on bond issues for mid-sized companies is a positive step forward for all those companies who feel they need to reduce their reliance on bank debt. The forgotten mid-sized companies need a helping hand. With further financing options they will be better equipped to weather the storm and create the growth this economy needs.”