Struggling small business bosses are 'moaners' says Sir Alan Sugar

News in pictures
News in pictures
On Facebook
From the blogs

Roy Hodgson for England: A club of one

To argue against Harry Redknapp for England is akin to arguing in favour of bankers bonuses. While s...

Time for a reality check on the Sri Lankan civil war

Sri Lanka, much like Britain, has side-lined accountability long enough.

Children Of Alcoholics week: One million children may just be the tip of the iceberg

Children Of Alcoholics week starts today. So, what are the aims for Nacoa during this important week...

Review of Being Human: ‘Being Human 1955’

Following on from an episode tinged with tragedy, this week lifted the mood with something lighter.

Sir Alan Sugar dismissed bosses of struggling small businesses as "moaners" who "live in Disney World", it has been reported.

Lord Sugar, who was appointed as the government's "enterprise champion" earlier this year, claimed just 15 per cent of companies which were refused bank loans had good reason to complain.



The rest, he said, needed an "insolvency practitioner" rather than more credit.



His comments will come as a blow to efforts by ministers to urge banks to boost their lending to smaller firms.



The Apprentice star and multi-millionaire businessman told delegates at a conference for small to medium businesses in Manchester yesterday: "I can honestly say a lot of problems you hear from people who are moaning are from companies I wouldn't lend a penny to.



"They are bust. The moaners are bust. They are bust and they don't need the bank - they need an insolvency practitioner."



He added that young entrepreneurs who had not experienced a recession until now had unreasonable expectations about obtaining credit from banks.



"Let me tell you, you lived in the Disney World - you have lived in the unrealistic Disney World in the way banks dished out money."



His remarks sparked anger from business leaders and opposition MPs.



A spokesman for the Federation of Small Businesses said: "Most small companies live in the real world, not Disney World, and they lie at the heart of our economy.



"They are not moaners, and the fact is they are working hard in difficult times and they need help from our banks."



Liberal Democrat business spokesman John Thurso told the Daily Mail: "The Prime Minister must not allow Lord Sugar's celebrity to distract him from the absolutely desperate message this sends. If he cannot get this, the Prime Minister must tell him: 'You're Fired!"'.

Independent Comment
blog comments powered by Disqus

Day In a Page

Apple admits it has a human rights problem

Apple admits it has a human rights problem

After years of complaints and workers' suicides in China the technology giant faces up to the human cost of its gadgets
Peter Moore: 'I feel guilty I'm the only one alive'

Peter Moore interview

'I feel guilty I'm the only one alive'
Sellafield faces nuclear option as overspending threatens plant's future

Sellafield faces nuclear option

Overspending threatens plant's future
Israel blames Iran for embassy bomb attacks

Israel blames Iran for embassy bomb attacks

Tehran rejects Netanyahu's 'lies' after diplomats in India and Georgia targeted
Former manager enjoying Apoel crack at the big time

Tommy Cassidy interview

Former manager enjoying Apoel crack at the big time
James Lawton: Patience may not be a virtue this time, Roman – Andre Villas-Boas looks all at sea

James Lawton: AVB looks all at sea

Abramovich's visits to training reinforce the idea of a coach feeling pressure from above and below
The 10 Best sledges

The 10 Best sledges

Not all of them require snow...
Procrastination: Not now – I'm busy

Procrastination: Not now – I'm busy

Confronting the real reasons for puttting things off can help us beat it
Fun in the sunset years

Fun in the sunset years

A new movie follows retirees moving to India for low-cost care and a culture of respect for the elderly. For many Britons, it's already a reality
Picture preview: Lucian Freud drawings

Lucian Freud drawings

Picture preview
Silent revolution at the Baftas as the French take top awards

Silent revolution at the Baftas

The Artist wins in seven categories, with Meryl Streep the other big success story
Whitney Houston: The diva who had – and lost – it all

The diva who had – and lost – it all

Nick Hasted charts the highs and lows of Whitney Houston's life
How Picasso won over (some of) the British

How Picasso won over (some of) the British

Winston Churchill and Evelyn Waugh hated his work, but Picasso provided inspiration for a whole generation of UK artists
Topshop: A Decade Of Design

Topshop: A Decade Of Design

When London Fashion Week starts on Friday, Topshop will celebrate 10 years backing its brightest young stars
John Prescott: 'My wife thought I'd just retire, but I'm not a slippers man'

'My wife thought I'd just retire, but I'm not a slippers man'

At 73, John Prescott isn't mellowing. In fact he's taking a shot at becoming a police commissioner