PM urged to help small businesses

Prime Minister David Cameron.
Prime Minister David Cameron.

The Prime Minister has been put on the spot by a Lancashire business leader about what could be done to improve bank lending.

Gary Lovatt, chairman of the county’s Small Business Federation (FSB), also questioned David Cameron on the mis-selling of interest rate swaps which has been an issue for local companies.

The chance to question the PM came at the inaugural FSB Policy Conference held in Westminster.

At a packed venue in Central London, Mr Cameron delivered a keynote address on a range of business issues, including cutting regulation to encourage small business growth.

Mr Cameron then took questions from the assembled audience.

Mr Lovatt said: “This was a great opportunity for the FSB to really put down a marker for what small businesses need to lead economic growth in the UK.

“Mr Cameron acknowledged that the banks needed to do more in both areas and confirmed that the issue was very much on his radar.

Other notable attendees at the conference included Chancellor of the Exchequer George Osborne, Shadow Business Minister Chuka Umunna and former small business advisor to Barack Obama, Karen Mills.

The FSB is the UK’s leading business organisation with more than 200,000 members.

It exists to protect and promote the interests of the self-employed and all those who run their own small businesses.