Banks failure to support small business deserves punishment, say MPs. The Government did not do enough to punish taxpayer-backed banks when they failed to hit targets for lending to small businesses, MPs have said today. The London Evening Standard is saying that a report from the Public Accounts Committee (PAC) has revealed that The Treasury lacked effective sanctions against Royal Bank of Scotland and Lloyds when business lending fell short by £30 billion.
The Ones to Watch: Stuart Jolley, founder of men’s deodorising wipe brand Wingman and star of BBC2’s Britain’s Next Big Thing with Theo Paphitis spoke to Businesszone.co.uk about the show and where he sees his business going
‘The most successful time for a company is also its most dangerous. The reasons for its success can be its downfall’ The Independent looks at why history is littered with highly successful and admired companies that then went into decline and ended up beset by crises and outrun by the competition. They failed to understand that the most successful time in a company’s life is its most dangerous time, because the very reasons for its success can also be the seeds of its downfall.
The European Commission approves a French risk capital scheme to help innovative new businesses.
EGovMonitor is reporting that the
EU concluded that the national venture capital fund that aims to encourage the raising of risk capital for innovative SMEs in their early-growth stages is compatible with the European Union’s rules on state aid and in particular with the guidelines on risk capital.
This fund will invest in other funds managed by private fund managers that target above all new businesses with strong innovative potential. The Commission has concluded that the positive effects of the scheme on the development of innovative SMEs are greater than any distortions of competition that might arise as a result of the aid granted.
