24 February 2015
Commenting on the Business, Innovation and Skills (BIS) Committee’s report, Government Support for Businesses, Stephen Sklaroff, Director General of the Finance & Leasing Association (FLA), said:
“There is much to welcome in the report, not least the British Business Bank’s comment to the committee that the major demand for finance is now for investing in new fixed assets.
“Whoever wins the next election, the BBB will have an important role to play in improving signposting for companies seeking this kind of finance, which is precisely what leasing and Hire Purchase provides.
A comprehensive online directory to help point SMEs to the most appropriate finance would be a helpful step.”
Note to editors:
- In 2014 FLA members provided £99.5 billion of new finance to UK businesses and households. £25.4 billion of finance was provided to businesses and the public sector. FLA members financed almost 27% of UK investment in machinery, equipment and purchased software in the UK last year.