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June 9, 2011

Hirer quizzes MP over bank lending

Filed under: Latest News — EHN Team @ 4:14 pm

Hirers were among the guests who attended a visit by local MP Rob Wilson to Higher Concept Software’s (HCS) offices in Reading, as part of a tour of businesses in his constituency.

Mr Wilson, who is MP for Reading East, was asked by David Cadwallader, Operations Director of Slough-based Already Hire which uses HCS’s Syrinx system, about the amount of money that banks were lending to small businesses. “Banks seem to be increasing overdrafts rather than lending small businesses the money they need to survive,” he said. “This is becoming more of a problem as customers prolong payments and cash flow is stretched to the limit.”

In response, Mr Wilson said he regularly met with the major banks and the feedback he received from them was that they were lending as much now as they ever were. He also underlined that the public sector was continuing to pay invoices on 30 day terms.

Mr Wilson, who is pictured (left) with HCS’s Katy Williams and Mark Goodrum, was also asked about the need to ensure school leavers are equipped with basic business skills. He replied that he was involved in plans to establish a local school that that will have direct links with businesses, offering work experience to pupils in addition to apprenticeships. The school day will be from 8.30 to 5.00 to reflect business life, and the operation would be supported by prominent local companies including Cisco, Microsoft and Network Rail.

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