Small firms call for more credit

The government should channel its credit easing plans towards helping small businesses, an industry body said yesterday. “Credit easing must be bold and look to boost competition by stimulating innovative models such as peer-to-peer lending and smaller internet banks,” said John Walker of the Federation of Small Businesses (FSB). Over a third (34 per cent) of small firms to have applied for bank finance in the last two months have been turned down, the FSB said.