Access to business finance continues to hamper

The recent upturn in the reported fortunes of the UK’s banking sector has not translated into the expected lending increase to business, claims the head of the Manufacturing Advisory Service – West Midlands. Despite the widespread announcements of a return to profit from the banks, little benefit is being felt by the region’s manufacturing sector according to Simon Griffiths.  He said: “Businesses are still facing major difficulties in accessing finance. While it is very good to hear the banking industry is slowly finding its feet, we are still receiving regular feedback from companies that are being hampered in their efforts to grow by a direct lack of lending.”