Small Business Finance

cranstons1There is no doubt that small businesses play a central role in the vitality and future potential of our local economy, and it is equally clear that businesses need finance to thrive and grow. Unfortunately, since the financial crisis, many small businesses have continued to face significant challenges in obtaining funding through conventional banking channels, and this is a frustration that many local business owners continue to raise with me. The Government has recognised this problem, and has introduced a range of imaginative measures which have begun to tackle many aspects of business finance, especially for slightly larger businesses. However, I believe there is still potential to address this issue further at a local level, especially for smaller companies.

Away from the banks, there are a range of alternative funding channels within the private, public and social enterprise sectors, which have the potential to support local businesses to a greater extent. The problem currently is that their role and scope is often poorly understood or insufficiently publicised. In some cases, better information flows can help, but elsewhere a streamlining and harmonisation of the different schemes is needed to improve access and clarity.

Show more
IMG_8330

RORY STEWART MP ​PRAISES CROSS-BORDER BUSINESS MODEL

Rory Stewart MP visited Appleby Creamery recently, to see exactly how their cheese is made, and learn all about their forthcoming expansion. The creamery, established in 2007, was named Cumbria’s Best Small Producer in 2013, and employs five full time members of staff and four part time. But this is now set to increase during […]

Dodd & Co

RORY WORKS WITH DODD & CO TO HOST PROPERTY REGENERATION SEMINAR

At the beginning of July, EU Assisted Area status was extended to several areas of north Cumbria for the first time, bringing with it a number of incentives for economic regeneration. In order to improve awareness of these incentives, and focus on opportunities for their local application, Rory Stewart MP will be hosting a seminar […]

Eden_credit_union

CUMBRIA BUSINESS FINANCE NETWORK SURVEYS

Through the Cumbria Business Finance Network we are hoping to accumulate the feedback of local borrowers and investors in the area of small business finance. This feedback will be used to inform the design of a financial mechanism, the Cumbria Business Investment Fund, which it is hoped will provide a practical and focused conduit for […]

EdenMortageBoostScheme_BannerPicture copy

RORY STEWART MP TO HOST FINANCE SEMINAR FOR SMALL CUMBRIAN BUSINESSES

As the next step in his campaign to improve the availability of finance – and day-to-day cashflow – for small local businesses, Rory is arranging a cross-party meeting in Penrith later this month to discuss the potential for a Business Boost Scheme that will encourage larger local businesses to invest in smaller enterprises and start-ups, […]

CCC

RORY PROPOSES ‘CUMBRIA BUSINESS BOOST’ INITIATIVE TO CUMBRIA COUNTY COUNCIL

As part of a renewed focus on finance options for small local businesses, Rory Stewart MP has urged Cumbria County Council to back the creation of a new ‘Cumbria Business Boost’ scheme, designed to bring the benefits of peer-to-business lending to Cumbrian businesses. The peer-to-business approach to business finance has grown substantially since the financial […]