Goverment should underwrite credit insurance: ACS

17 March, 2009

The Association of Convenience Stores has called on the government to underwrite credit insurance to ease pressure on small shops.

Chief executive James Lowman said: “We are calling for the government to underwrite credit insurance.

"Many local shops have built their businesses up based on access to credit from their suppliers, and this has become increasingly restricted in the recession.

"We have seen a lot of initiatives to free up credit from banks and we now need to see more action to help cash flow for small shops."

He added: “In a survey of nearly 400 members we found that not one business had benefited from government schemes to open up lending from banks. Government initiatives to get banks lending are not yet working.”

The ACS made the call in its Budget submission, in which it also asked for a freeze in the national minimum wage.




Bookmark this


Site Search

COMMENT

Donald Trump: the US has much to learn from history

The reasons Donald Trump should not be left in charge of a shopping trolley, let alone the keys to the White House, are plentiful and well-documented – from his use of the word “bigly” and lamentable business legacy to his dubious post-modern feminist principles, quite astonishing lack of political acumen and, most worrying of all, his bewildering hair. 

Click for more »
Upcoming events

Polls

Is blended Scotch overshadowed by single malt in retailers?

  • Yes
  • No
  • Don't know

Facebook

Twitter