The National Loan Guarantee Scheme may be just the thing to help small businesses access cheaper finance and create more opportunities for umbrella company contractors.
The UK’s banks claim they are will meet their Project Merlin lending targets for this year but small businesses, including some umbrella companies, are disputing the claim saying it is becoming harder and costing more to get a loan.
Despite all the publicity surrounding Project Merlin, umbrella company contractors might be surprised to learn that a large proportion of businesses in the UK are unaware of its existence.
New research from Aviva shows that around 10% of small firms in the UK are worried they might have to close this year if trading conditions do not improve.
As budget day looms ever closer, various organisations have been urging the government to create an environment that supports entrepreneurs, small businesses and umbrella company contractors.