Conservatives back support for microbusinesses

16-Dec-2015 @ 9:0

Anthea McIntyre Anthea McIntyre

Anthea McIntyre Anthea McIntyre

Anthea McIntyre Anthea McIntyre

A scheme to increase the availability of credit to new and developing firms should be measured by its ability to help entrepreneurs get their projects off the ground.

Conservative MEPs are proposing the standard is built into the EU's European Progress Microfinance Facility, which guarantees loans below €25,000 made to businesses by non-bank, microfinance lenders.

Other proposals for the Facility being backed by the European Parliament include a greater focus on young people and a call for Member States to reduce the amount of red tape faced by entrepreneurs.

Conservative Employment and Social Affairs Spokesman Anthea McIntyre said: "We believe that SMEs and microenterprises represent a huge opportunity for growth and job creation. In many Member States this Facility has contributed to economic growth, social inclusion and supported many worthy businesses.

"Conservatives will always support initiatives that give hard working people, disadvantaged groups and other target groups, including female entrepreneurs, opportunities to become economically active."

In Britain three providers currently provide loans underwritten by the scheme, which was launched in 2010. In London, Fair Finance and GLE specifically target disadvantaged groups in deprived areas, while EZBOB provides UK-wide financing to microbusinesses and social enterprises.

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