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Bank Loans: UK government should encourage banks to lend to SMEs

The UK government should encourage banks to lend to small and medium-sized enterprises (SMEs), an expert has claimed.

Accountancy firm BDO has released its latest Optimism Index, which shows how UK companies expect to trade in six months time, revealing that businesses may be beginning to feel more optimistic about the UK's economic outlook.

Although the index is still below the target 95 mark - which represents a contraction in the economy - it rose from 91.6 in September to 91.9 in October.

Justin Cooke, chair of the British Interactive Media Association and chief executive of Fortune Cookie, claimed the growth is representative of a change in attitude from British companies.

He said: "Businesses are undoubtedly starting to regain confidence in the economy.

The government needs to encourage banks to lend money to SMEs and look at new ways that we can promote international trade and international investment in the UK," he added.

Posted by John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.ADNFCR-2776-ID-800239398-ADNFCR

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