August 2018
By Adam Tyler, executive chairman at FIBA
The holiday period is fast disappearing in the rear-view mirror and, refreshed or otherwise, the autumn months will be full speed ahead for all of us. In my case, as FIBA’s executive chairman, I have been hard at work already. Along with my industry colleagues, including lenders, MPs and SME business leaders associated with commercial finance, we are continuing to engage with government and politicians from all parties at Westminster on the topic of SME funding. Our Access to Finance initiative is gathering pace.
Following an event in the House of Lords that I chaired earlier this year, we responded with an interim report to the Treasury Select Committee on their Access to Finance paper. After these initial discussions, we decided to launch our lender survey; this follows a survey of our SME community, initiated around a month ago. This will mean that we can put together a unique report with input from the SME community, as well as lenders, to businesses across the UK.
I have long been a champion for commercial finance, adding to the value that SMEs bring to the UK by ceaselessly lobbying government, regulators, lenders and service providers on behalf of the sector, but particularly advisers like you. For the past nine years, I have been a very proactive lobbyist for the business lending community and now, working with FIBA, you will have the benefit of my experience and commitment in putting you and your concerns in front of the people that matter.
The work we are undertaking is of vital importance to SMEs, and because of the value that SMEs bring to the UK economy, to all of us. SMEs are the lifeblood of the UK economy. Everyone acknowledges how vital they are and yet we are still struggling to improve the flow of funding that helps businesses grow and develop.
For you as advisers, our work will influence the way that government responds to the needs of the sector. Our goal is to lobby successfully to ensure that SMEs are not only able to access funding both now and in the future, but also that SMEs’ importance to the growth of the economy is not forgotten in the eyes of government.
Advisers are at the forefront of helping SMEs negotiate the right finance and therefore your contribution to this debate is very important. The outcome of our lobbying depends on being able to articulate precisely what needs to be done and as an adviser and FIBA member, one of the most helpful actions you can take to support what we do is to get involved.
FIBA wants to encourage every member to speak out about the industry. Not only do we want to hear from you at our roadshows and other events, but I would also like to invite you to add your voice to those thousands of SMEs that already have, or are going to complete our survey.
Your opinion and insights are just as important and probably more pertinent than most, because you are seeing and experiencing the market through the issues and challenges faced by your SME customers. So please may I invite you to get involved and complete the survey by clicking the link below, as this is wholly applicable to the broker, as well as the lending community.