UK brokers’ association sets pace for European small business funding initiatives

Adam Tyler, the NACFB’s chief executive officer explained that this is part of a wider debate across all the EU states to help small businesses get better access to finance.

It also gave the Association a chance to highlight how well the UK market operates with the broker market offering easier access to finance for SMEs than any other European country.

Tyler told Asset Finance International: “This was a great opportunity to represent the UK as their sole spokesperson not only on behalf of the NACFB, but also as a member of the Genesis Initiative that represents 1.4 million SMEs.

“This is a Europe-wide initiative and I spoke alongside individuals from Germany, France, Finland, Austria, Italy, Belgium and Greece to name just some of those present.”

Tyler stressed that the overriding feeling was that the UK market is doing much better that any of the others except possibly Germany.

“There were some really difficult lending conditions in a number of countries,” he said, “and it was pleasing that the UK was recognised as showing real positive growth in lending to SMEs.

“This was also an opportunity to show how the commercial finance broking sector is really penetrating the small business community in the UK. It was also rewarding to point out that the NACFB, with members in every town, village and city across the country, has helped new lenders to business grow and expand in the UK.”

Adam Tyler went on to say: “It would not have been complete if we had not touched upon the Consumer Credit Act. So this was our big chance to highlight in this European environment how our broker model has really helped SME lending and that further regulation could only hinder our growth.”

The objectives of the Genesis Initiative, established in 1999, are to encourage the creation and growth of SMEs and to support them through research, the writing of policy papers and acting as an advocate for their common interest.

This complements and strengthens the efforts of established representative SME organizations. Genesis acts as a co-ordinating body, bringing together entrepreneurs, SME academics, SME representative organisations, and members of all party groups within both Houses of Parliament and the Welsh Assembly.

Genesis also supplies policy papers from its Senate for onward transmission to government and interested parties. Conferences, seminars and other meetings, often on a regional basis, are held to harness the collective views of the SME community and channel their vision, ethos and culture towards policy-makers/legislators.

The Genesis model has been enthusiastically supported within the EU and a Pan-European Genesis Initiative was set up in 2001 to engage all participants within the SME family irrespective of nationality, race, creed or political affiliation.