Did anyone see the great Theo Paphitis from Dragon’s Den on Panorama recently, reporting on funding for SMEs? In the programme, Theo took us through the struggles too many small businesses are facing right now – primarily in getting the credit lines they need to grow their businesses – which by the way is how the country will dig itself out of recession.
Scary stuff, particularly as most banks are “making it up as they go along” – Theo's words – and they don't fully understand how the various government funding schemes actually work. So this is suffocating UK small and medium businesses across every sector – including many of the businesses that are at the heart of data and marketing services.
When will the government get it? Stop issuing instructions from your desk and get out there and talk to business, see what’s needed and then go tell it to the banks. It's no good telling us through the press that funds have been made available to pump much needed cash into what is the lifeblood of the country if no one can actually tap into it.
Every day I see another report on government help but have you found a company that can actually get their hands on the cash? The answer is a thumping NO! At a time when we need to get this country moving we could do with some practical hands-on help.
Unfortunately most of our bankers have been in the job since school and most of our government ministers have never been in the commercial sector – and these are the very people who have the power to make a real difference.
The cynic in me would say Theo for Chancellor and Judge Judy for Prime Minister – now that's the kind of combination that might get close to giving everyone a kick start. Does anyone out there have their own nominees?
