Nick Green, the founder of printed.com, has called on the Government to use its position as a major shareholder in the UK banking industry to force institutions to ease credit lines for SMEs.
Recent figures have shown that Project Merlin, which was meant to encourage lending to SME didn't quite meet the targets and Green has called for action: "At the end of the day though, banks are in the business of lending and we all know that the taxpayer has a high percentage ownership of UK banks," he says.
Green adds: "More funding should be getting through to SMEs. I am just a little nervous it could take a while. As owners of the bank, the Government needs to push banks harder to open up lending and that is what they have to do."
Green says problems with financing in the wider economy has a knock on effect on print, commenting: "At printed.com we have got a very big focus on the SME market and I think that over the next few years that market is going to be very important for the UK economy."
Green concludes: "The Government should be doing more to get behind it and hopefully over the next few months we are going to see that."
Source: "Nick Green calls for boost to SME lending" (Print Monthly)