Uncategorized November 26, 2012

Most CEOs unaware of government business finance schemes

Nearly two out of five business owners are unaware of the government schemes designed to help them raise finance, according to a new survey.

A poll by Aldermore Bank has revealed that 38 per cent of business owners are clueless when it comes to raising finance through these schemes. Only eight per cent of those questioned admitted that they were planning to use these schemes in the future.

This is despite a fair portion of small British businesses struggling to navigate through the recession.

Mortgageintroducer.com reports that there is a fair amount of cynicism surrounding the schemes. More than half of the survey's respondents suggested that there was an ulterior motive behind the schemes that wouldn't assist them.

George Ashworth, who is managing director of Aldermore Asset Finance, has suggested that business owners need to be better informed about the benefits of such schemes.

He told bridgingandcommercial.com: "There is clearly a big job to be done in helping 'time poor' business owners find out more about government backed schemes designed to help them grow their businesses.

"Our research confirms that two thirds of business owners turn to their internet as their primary source of information. There is plenty of scope for simplifying and clarifying information about government backed schemes and making this information available online to business owners."

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