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Today the Chancellor has launched the National Loan Guarantee Scheme (NLGS). This will be providing up to £20 billion of government guarantees on unsecured borrowing by banks to smaller businesses across the UK (with an annual turnover of up to £50 million). As the government are not guaranteeing the individual loans the banks retain the credit risk and therefore the usual credit assessments will apply.

A number of banks have signed up for the scheme and the businesses who take out a NLGS loan will receive a discount of 1 percentage point compared to the interest rate that they would otherwise have received outside of the NLGS.

 

Christie Limb

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It is reported that business confidence is on the rise.

 

The BDO which pulls together the results of the main business surveys reports that business optimism his improving and at February 2012 they have recorded that the business optimism index is now at 98 from 94.1 in January this is the second month of substantial improvement. The movement reverses the previous downward trend and the optimum index is now at its highest level since May 2011.

 

The good sign is that the index is over the 95 point mark which indicates positive growth.

 

Further the federation of small business has also reported that its members were now more positive and in fact this was the first time they had been positive in the last 12 months. More small business are saying that they would want now look to increase their investment rather than cut spending.

 

If you are a small business and are looking at investing and growing and would like assistance with property matters such as taking a mortgage over commercial premises or you are planning to take on new commercial property, go to our online commercial quote system for a fixed price quote for the legal work.

Christie Limb

 

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