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


According to an article which appeared in the Daily Telegraph, Small and Medium Enterprise will benefit from a minimum of 15 percent increased lending over the coming three months. The pledge was made by CEO Stephen Hester, who admitted that the bank wasn’t yet out of trouble.

However, he did say that previous actions had placed them in a position to have a role in the recovery of the UK economy. Hester provided some details of how the bank intended to support SMEs. Initially, they would guarantee renewal of overdrafts without increasing the interest rate, with the provision that the credit file of the business is the same. He pointed out that they were the only bank to offer this reassurance.

Hester also stated that 40 percent of finance loaned to UK SMEs originated from the NatWest and RBS. The government owns 83 percent of RBS, following a bailing out of the bank in 2008 using money from UK taxpayers. Hester said:

“When businesses see uncertainty playing out on a global scale, they rightly feel nervous about their own prospects. This makes them less likely to borrow in order to expand, thus further undermining recovery.”

Interest groups and the government have placed pressure on the high street banks to increase lending to SMEs, in order to boost economic growth. A number of measures have been introduced by the government to encourage affordable lending. Project Merlin is the most recognised initiative, with the banks agreeing to targets for lending, which would have a strong focus on SMEs.

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.