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Inside Business Magazine

Accounting that counts Local Accountants who provide a personalised service to local business owners and individuals. All initial consultations are free of charge and we are happy to provide unlimited telephone support. COOK THE BOOKS Annual Accounts Preparation Book Keeping Taxation Management Accounts and Information Payroll Tel 01525 854862 w w w . c o o k t h e b o o k s . o r g . u k Looking back, 2013 will be seen by many as the year that the economic recovery really began to take hold. The road to recovery has been a long one, but it now looks to be gathering momentum, led by growing consumer confidence and easing credit conditions. After years of recession and stagnation, Lloyds Bank Commercial Banking research found business confidence increased across all regions and sectors of the UK during 2013 and reached its strongest level since before the recession hit. Getting out and meeting clients, we’ve heard from many who said that they had a new-found optimism about the economy and that they planned to increase capital expenditure and invest in creating new jobs, and we shared their ambitions. It is hugely satisfying to report that our work to support the UK business community continued apace and that we outperformed many of the promises we made to our clients. As part of Lloyds Banking Group, during 2013 we pledged to keep net lending to small and medium-sized businesses positive and our year-on-year net growth in advances to SMEs was five per cent at the end of September, 2013. That compares with a net reduction of three per cent across the industry. It was also gratifying to see our commitment to providing alternative sources of finance for businesses proving a boon for so many of our clients. We also outperformed our Manufacturing Commitment to provide £1 billion of additional lending to SMEs and mid-sized manufacturers by September 2013 by 30 per cent. Our Business Support Unit continued to work with businesses in financial difficulties and helped more than 250 businesses - mainly SMEs - on to a more sound financial footing, safeguarding more than 28,000 jobs. Looking forward, we remain absolutely committed to working alongside SMEs to help them achieve their full potential. Business confidence is building and companies are more optimistic that the economy is moving towards a truly sustainable recovery than they have been for many years. By planning ahead and leaving ample headroom to account for any challenges that may occur during 2014, businesses can look forward and plan for the future. It is important that firms have a banking partner which understands their needs and at Lloyds Bank Commercial Finance, our client managers can help firms to choose the best option for their business. With growth gathering momentum and the UK making a positive recovery, now, more than ever, it is crucial to have the backing of a bank that can understand the opportunities that businesses face and help them to achieve their ambitions. *The Bank of England has forecasted that the UK economy will return to pre-crisis growth rates by next year and has upgraded growth predictions for 2013 from 1.4 per cent to 1.6 per cent, and next year's forecasts have been upped from 2.5 per cent to 2.8 per cent. Announcing POETS DAY Friday afternoon Networking The perfect end to the working week Visit www. i n s i d e b u s i n e s s . c o . u k


Inside Business Magazine
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