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Lloyds TSB reveals business confidence recovery

Lloyds TSB reveals business confidence recovery   by Sam Gooch

in Accounting   (submitted 2009-11-25)

0

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There are some signs of improving business confidence, new figures indicate.Businesses are largely optimistic about the future, according to new research.

Figures released by Lloyds TSB Corporate Markets Business Barometer show that just under two-thirds (65 per cent) of organisations questioned in October claimed to feel more confident about the economy now than they were three months ago.

In the September study, 61 per cent stated to have felt this way.

Meanwhile, 38 per cent predict that their level business activity will rise over the next 12 months.

However, 45 per cent were looking to this when questioned in September.

Around half (47 per cent) told the firm - which includes the Lloyds TSB Business Account in its range of products - that they expect activity to stay the same, those searching for business bank accounts could be interested to hear.

Trevor Williams, chief economist of Lloyds TSB Corporate Markets, stated: "Business confidence has recovered sharply from the lows at the turn of the year, however it is still below its long-term average."

Such figures follow recent comments by Dragons' Den star Duncan Bannatyne that there needs to be greater access to business banking products for entrepreneurs.

In an article for the Daily Telegraph, he claimed business credit cards and other forms of lending are becoming harder to source.

BCC reveals business finance difficulties

BCC reveals business finance difficulties   by Sam Gooch

in Accounting   (submitted 2009-11-25)

0

votes

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Accessing business banking products is proving an increasingly difficult task, according to a new study.UK businesses continue to have problems accessing business credit cards and other business banking products, new research indicates.

Figures released by the British Chambers of Commerce (BCC) show that one-third (33 per cent) of firms claimed that obtaining finance had become more difficult over the past three months, a rise from the 20 per cent who felt this way when questioned in June.

Just three per cent claim that access to business finance products and services has risen, down from the six per cent who felt this way five months ago.

David Frost, director general of the BCC, stated: "Our latest survey results show that the biggest issue facing British businesses is still demand for products and services. This means that any economic recovery is still fragile."

He added that despite the "huge sums" that have been put into quantitative easing, not enough of this is reaching small and medium-sized firms to help them "invest for future success".

However, organisations on the lookout for business credit cards, current accounts and other products could be interested in recent claims by the Lloyds Banking Group that it will look to do more to make finance deals available to business customers.

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Automated Contents f

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