This is an interesting article on small business lending trends in the US. It’s worth a read.
via Bond Street, An Online Small Business Lender, Announces $110 Million In Funding.
As I reflected, my mind switched to Europe where the shortage of finance for small businesses is a major obstacle to growth. Small businesses typically create more jobs than big business which rely increasingly on technology, outsourcing and offshoring. Jobs growth in Europe will come from promoting small businesses plus infrastructure investment.
Surely policy-makers in Europe must intervene to increase finance for small-businesses?
Dr Alf is spot on Europe should make it easier for small businesses and startups to get funds.
Sadly they are in thrall to major banks and the plutocratic interests behind them so what happens in America will never happen in Europe.
Crowdfunding platforms are growing in number and sophistication as a response to the supine attitudes of High Street Clearers like HSBC PLC who are experts at taking in deposits from Mexican drug lords whose minions delivered cash in holdalls small enough to fit into the teller windows of that Bank’s US subsidiaries.
Other European banks are equally risk averse when it comes to small business and European Governments other than Germany which supports its Mittelstand,are really only interested in major employers because its ministers and top officials know many of the directors of these firms as personal friends.
John, many thanks for sharing your view here.
John thanks. I agree