FSB welcomes appointment of Sir Alan Sugar as Enterprise Champion

The Federation of Small Businesses (FSB) is celebrating victory today with the Government’s introduction of an Enterprise Champion – in the form of respected businessman Sir Alan Sugar.

The FSB has been campaigning for a corporate mediator to act as a go-between for high street banks and small businesses on lending issues and it is now hoped that Sir Alan Sugar can use his role to restore trust and confidence between small businesses and their lenders and ultimately help kick-start the economy.

A recent FSB poll revealed that more than 70 per cent of FSB members thought a corporate mediator would help build better relations between banks and small businesses.

The inclusion of prompt payment in his brief is also welcome as this is another big issue impacting on cash-flow.

John Wright, Federation of Small Businesses National Chairman said:

“We welcome Sir Alan to his new role and are very pleased the Government has heard our concerns over bank lending. The appointment of enterprise champion Sir Alan, with his stature and no-nonsense approach, should help compel the banks to lend fairly to viable small firms.

“Small businesses thrive on personal and direct relationships but their dealings with the bank manager deteriorated over the last year with increases in the cost of finance and firms being denied new credit. We look forward to working with Sir Alan to help him break down the barriers which have made it so hard for viable new and existing businesses to gain vital loans and overdrafts to help them survive and grow.”

Ends

Notes to Editors

1. The FSB is the UK’s leading business organisation with over 215,000 members. It exists to protect and promote the interests of the self-employed, and all those who run their own business. More information is available at http://www.fsb.org.uk

Contacts

Stephen Alambritis: 020 7592 8112 / 07788 422155
Sophie Kummer: 020 7592 8128 / 07917628998
Prue Watson 020 7592 8121 / 07825 125695
Marc Shoffman 020 7592 8113 / 07595 067068

For regional FSB contacts please go to www.fsb.org.uk/regions