Small Business Credit - 1589 Words

1) Introduction We have done our best for the UK economy; key statics show our performance over the period of our regime. In 2007, when we took over sovereign debt crisis were knocking at our doorsteps. We needed to introduce new banking reforms to kick back that double dip financial recession and to retrieve our economy. We have changed our lending pattern to save taxpayers money to boost our economy. Key reforms are as follows 2) Provision of small business credit. a) Department of business innovation skills We realize that SME’s are crucial for UK economy, In first quarter of 2013 there were around 4.9 million businesses were private, among those 99.9 % were SME’s. Almost 44% of SME’s are using external finance; reportedly bigger SME’s are using more external finance. According to BIS survey, most of SME’s are not using direct loan they use other forms of finance, like lease, hire purchase, invoice finance etc. b) Big society bank now known as big society capital group. Prime Minister, David Cameron, said: â€Å"When I announced the idea of a Big Society Bank, I wanted to help social enterprises and other groups to grow and expand their vital work. I am delighted that with today’s announcement of the organisation’s first investment, this vision is becoming a reality†. Basic structure of Big Society Capital bank Merylin Banks Big society trust Charitabe Foundation operating company CLS Big SocietyShow MoreRelatedHow A Small Business Loan With Bad Credit2621 Words   |  11 PagesTitle: How to Get a Small Business Loan with Bad Credit to Save Money Description- Always try comparing the loans coming from different lenders as this will help you in getting hold of the most beneficial deal. Getting a small business loan with bad credit is not very easy but it is always possible. Small business loans are important for the expansion and the success of small businesses. Loans are only available to businessmen with good credit. A businessman with bad credit will not be able to availRead MoreCredit Card Crisis For Students And Small Business Owners1858 Words   |  8 PagesClass : ENGL 109M Prof: Blair Overby Audience: Consumer/Students and small business owners. Credit Card Crisis for students and small business owners. In the modern era, credit card is being the efficient and secured form of payment which is becoming a necessity for every individual rather than a choice. Especially in United States of America, credit card is being considered as an essential part of life. Since the introduction of Credit cards back in 1920s, the payment system has been revolutionized andRead MoreVisa Is A Global Company800 Words   |  4 Pagesdifferent aspects of the economy that it does business in. The economy is constantly fluctuating and Visa needs to be aware of economic factors if it is going to be successful in business. If there is a downturn in the economy there may be more use of credit cards to make ends meet or there could be a shift in government processes that could affect Visa positively or negatively. Keeping aware of these factor is just as much a part of every day business as the transactions they process. One of theRead MoreObamacare Will Impose New Health Coverage963 Words   |  4 Pagesdesire to provide health coverage, and motivation to grow in terms of both income and employment. Further Burdening Businesses. Obamacare is likely to exacerbate many of the concerns and costs that are already burdening businesses—particularly small-business owners—in at least four ways. 1. Higher Health Care Costs. Obamacare does nothing to reduce the continually increasing costs facing businesses that provide health insurance coverage. In fact, Obamacare’s wide variety of benefit and coverage mandates—combinedRead MoreThe Affordable Care Act Bill ( Aca )1442 Words   |  6 Pagesconstitutionality of the bill the ACA is a very intriguing topic. Small businesses account for a large portion of job growth in America and there are fears that the ACA will squander this growth and have a negative impact on the economy. Information gathered from business owner accounts of the ACA and its impact on business and statistical numbers from agencies will determine whether the ACA had a negative or positive impact on small business in America. In an article written by the Washington Post inRead MoreAffordable Care Act And Small Business1662 Words   |  7 PagesAffordable Care Act and Small Business Many people have a lot of questions when it comes to the new healthcare reform law. First off Obamacare is formally called the Patient Protection and Affordable Care Act. The Patient Protection and Affordable Care Act is the healthcare reform law that was signed in 2010 and now many states have opened their health insurance marketplace exchanges as of October 1, 2013. This new healthcare reform law aims to increase the number of Americans that are coveredRead MoreWhy Is It So Difficult?1121 Words   |  5 Pagesdownright impossible for the small business owner to navigate due to conflicting advice on the internet. Why is it so difficult, and seemingly against regulations, for the small S corporation to provide additional assistance to the employees, including the shareholders? It seems that as a result of ACA, many employers saw that it made more sense to allow employees to acquire insurance through the marketplace. A win-win since the employee can take advantage of tax credits, and the company saves moneyRead More The Ministry of Micro, Small and Medium Enterprises and The Industries Development and Regulation Act1108 Words   |  4 PagesRegulation Act, 1951, undertake the legal and conceptual framework for small and supported industries. This act provided essential powers to Central Government to encourage small and medium scale industrie s. ‘Micro, Small and Medium Enterprises Development Act, 2006’ launched to promote and develop small, medium scale enterprises. This act aims to accomplish long-term goals by government and MSME stakeholders. The Ministry of Micro, Small and Medium Enterprises (MSME), is launched by Government of IndiaRead MoreBusiness Financing For Small Businesses Essay919 Words   |  4 PagesSmall Business Loans Starting a business requires capital so as to run and steer the business to profitability. There are many sources of financing tailored to meet the needs of start-ups and small businesses. Business financing usually varies depending on factors such as source of funds and the size and type of business. The process of securing funds can also be problematic for most start-ups and small business because of the unwillingness of most traditional banks to provide funds to small borrowersRead MoreStop Burdening Small Businesses938 Words   |  4 PagesStop Burdening Small Businesses As the foundation of the U.S. economy, small businesses employ 50 percent of the U.S. population. In 2010 the U.S. Census reported 27.9 million small businesses categorized by size (20-499 employees). Accounting for 64 percent of the net new jobs created between 1993 and 2011 and since the recent recession, from mid-2009 to 2011, small firms accounted for 67 percent of the net new jobs (Employment Statistics | SBA.gov, 2014). Unfortunately, rising costs and inefficient