CBI launches recovery plan for small firms
Howard Davies, the organisation's director-general, has set out a small firm recovery plan urging swifter payment of bills by large firms and public bodies, encouraging use of debt collection services by small firms and asking banks to be more willing to swap debt for equity - not just as a last resort.
To encourage investment in small ventures, the CBI wants a replacement for the Business Expansion Scheme. Mr Davies envisages a new scheme under which people could put their money into specific projects through a local investment vehicle. This, he believes, would prevent abuses such as the use of the scheme as a tax haven, for which the BES was widely criticised.
Mr Davies is also asking the venture capital industry to route more of its investment into start-ups, early stage funding and refinancing of bank debt. He said that these sectors took only 11 per cent of the investment by the venture capital community compared with 64 per cent that went to support management buyouts.
The CBI also strongly supported a replacement for the Unlisted Securities Market, which looks likely to be axed by the Stock Exchange. Mr Davies said there must be a cheaper alternative to a full listing, perhaps on US lines.
- 1 PlayStation and Xbox hacked by Lizard Squad
- 2 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 4 Vagina canoe artist defends herself over ‘obscenity’ charges
- 5 The Queen’s speech 2014: Recap and Twitter reaction to Game of Thrones reference
PlayStation and Xbox hacked by Lizard Squad
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
Boxing Day snowfall set to push even more bargain-hunters online for sales
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...