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Cable calls for SME & banking collaboration

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Recommended: Cable calls for SME and banking collaboration to improve finance flow

BUSINESS SECRETARY Vince Cable has attended the first Doing Business Together event aimed at providing SMEs with more access to finance.

The event, organised by CreditPal's Chris Poll, will bring together SME representatives, banks and credit rating agencies to discuss what information is required from businesses to gain access to finance, and how to facilitate the flow of information.

"There it too much misunderstanding and even mistrust between banks and their clients, which creates a barrier holding back firms, banks and the wider economy," said Cable.

"The operating principles of Doing Business Together describe how these barriers can be broken down by taking a few clear, commonsense steps," said Cable. "I will be watching its progress with interest."

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Author:Kevin Reed, Accountancy Age