A Midlands based business lender believes that local SMEs are not receiving the praise they deserve for helping to reduce levels of UK unemployment.
Following the recent announcement that UK unemployment reduced to 1.6 million in the three months to September, BCRS Business Loans has spoken out in support of local small and medium sized businesses (SMEs) who, they believe, have made a significant contribution to providing additional employment.
Paul Kalinauckas, Chief Executive of BCRS Business Loans, said: “Large companies have rightly received the praise they deserve for stimulating local employment, but we feel it is our responsibility to thank small and medium sized businesses for their contribution to bringing unemployment to an 11-year low.
“In the West Midlands specifically, BCRS Business Loans have also seen some very impressive jobs figures. By providing loans to support growing local businesses that wouldn’t otherwise be able to access finance, we have helped them create an additional 341 jobs and safeguard 210 existing jobs since the start of 2016.
“This has in turn helped generate an extra £18.6 million in the West Midlands economy. We believe that no viable SME should go unsupported and realise how important they are in strengthening our local communities,” said Paul.
The Federation of Small Businesses (FSB), which champions the interests of UK SMEs, welcomed the news from BCRS Business Loans.
The Chairman of FSB Shropshire, Herefordshire and Worcestershire region, Richard Asghar-Sandys, said:
“With more and more people opting for self-employment and small businesses accounting for 99 per cent of all businesses in the UK, FSB welcomes initiatives that improve access to finance for those looking to establish and grow successful enterprises.”
BCRS Business Loans, which was established in 2002, has a range of dedicated Business Loan Funds that support growing SMEs based in the West Midlands and environs. Providing loans from £10,000 to £150,000, BCRS supports most business sectors and doesn’t use impersonal credit scoring systems to judge the viability of loan applications.
To discover more about BCRS Business Loans visit www.bcrs.org.uk to submit an online enquiry form or call 0345 313 8410.