Member Article

Investment in business is what this country needs

Mark Sismey Durrant, CEO, Hampshire Trust Bank responds to the EY ITEM Club forecast: “With consumer spending expected to slow down in the next three years, it is time to focus on business-led economic growth. Significant investment in British business is exactly what the country needs to ensure the UK stays as a key player in the global economy. We believe that focusing on the UK’s smaller businesses is the road to accelerating UK growth. Not only do these businesses represent almost 50% of our economy*, small companies have a strong appetite for investing to grow and prosper. Our research** found the average SME has £230,000 sitting in their current accounts and nearly half (42%) are planning to invest some of this money in their business in the near future. Small businesses can only succeed with the appropriate financial support and guidance and this is where the challenger banks can help. When we work with small businesses that are looking for funding, we don’t operate on a tick-box system. Our experts make lending decisions based on the current market and the prospects of a business to ensure we can support more companies. Banks being open for business is a vital strategy if the UK is to remain in its pole position in the corporate race.”

This was posted in Bdaily's Members' News section by Hampshire Trust Bank .