Serviced office seekers could benefit from more financial support

Serviced office seekers could benefit from more financial support1st September 2010

Firms looking for office space to rent might benefit from a greater degree of financial support if the words of one industry figure are acted upon.

According to the Scotsman, Colin Borland, public affairs manager for the Federation of Small Businesses (FSB) in Scotland, said a short-term solution is needed to support businesses with funding.

Although the body agrees with the Bank of England's maintained low interest rate of 0.5 per cent, "more work needs to be done to ensure that this money reaches the wider economy," he commented.

Mr Borland added a decrease in demand for bank lending does not equate to a lack of need for business finance.

Furthermore, chief economist at IHS Global Insight Howard Archer stated there is a strong case for the Bank of England to expand its quantitative easing (QE) programme in order to fend off a possible double-dip recession.

And if the central bank decides to revive its QE programme, firms seeking serviced offices may find it easier to obtain a loan.

Last month, Andrew Cave, head of policy at the FSB, suggested companies should build trust with banks in order to gain access to finance.

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