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FSB calls for interest rate cut
The Federation of Small Businesses (FSB) is calling for an interest rate cut to help the 1.5m small businesses that are at risk of closure.
In a recent FSB poll of almost 5,000 small business owners over 75% were in favour of interest rate cuts.
The poll also revealed that over 50% recorded a decrease in trade in the last two months and nearly 70% of small businesses had either put a freeze on hiring or were considering doing so.
"The first step is for the Bank of England's Monetary Policy Committee to send out the right message this week by cutting interest rates by one per cent. This should hopefully encourage banks to lend and secure the future of millions of businesses," said FSB chairman John Wright.
Post Date: November 4th, 2008
In a recent FSB poll of almost 5,000 small business owners over 75% were in favour of interest rate cuts.
The poll also revealed that over 50% recorded a decrease in trade in the last two months and nearly 70% of small businesses had either put a freeze on hiring or were considering doing so.
"The first step is for the Bank of England's Monetary Policy Committee to send out the right message this week by cutting interest rates by one per cent. This should hopefully encourage banks to lend and secure the future of millions of businesses," said FSB chairman John Wright.
Post Date: November 4th, 2008
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