British smokehouse: Small-business loans key

The challenge for small businesses is how to access money, Inverawe Smokehouses said in an interview with the Financial Times.

The salmon producer, which has a contract to supply the Waitrose supermarket chain and targets the premium end of the market, told the FT stability from the new UK budget was crucial as the UK’s economy begins to pick up.

Inverawe’s Patrick Campbell-Preston wants Chancellor of the Exchequer George Osborne to make sure that initiatives to encourage lending to small businesses continue.

“One of the key aspects is going to be the ability to borrow. That has certainly improved, they are much more willing than they were,” he said.

With the budget now announced, Campbell-Preston noted the promise of export finance. But he said the challenge for small companies was how to access the money.

“When you hear a figure of £3 billion, just 0.1% of that would really help us. But it’s hard to tap into. You need a whizzy accountant.”

Read the full story here.