Starting a new business? Get 40% off our accountancy services for 3 months! 😀


Business finance is set to increase for Small and Medium Enterprise in 2012, according to Lloyds Banking Group. The bank has pledged £12 billion, which will be made available for businesses with annual turnover below £15 million. It is hoped that the move by Lloyds will boost growth during the economic turmoil.

Lloyds is the first of the main banks to announce a lending target for 2012, creating suggestion that the move may encourage the government to set new agreements for the banking industry. According to the bank, net lending, which is the difference between money loaned and the amount of debt which is repaid, will remain positive in a bid to boost business confidence. The commercial group director of Lloyds, John Maltby said:

“There are no caps and no quotas- we will simply lend where the money is needed and will go beyond our commitment if the demand is there.”

Business finance to SMEs has reduced overall by 31 percent since 2009. SMEs have already had £76 billion of business finance, through the Project merlin initiative which saw the five main banks agree to a lending target for 2011. Last month, Phil McCabe spoke on behalf of the Forum of Private Business to call on the government for assistance, helping small businesses get the finance they need.

According to McCabe, although they are moving in the right direction, the government need to do more to remove the burden of taxation from small businesses, and in particular small start-ups.

Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?


Call us on 020 3355 4047 if you’re not sure.