Sajid Javid’s Army
Followers of the Armada Blog will know how supportive we are of the vast numbers of small and medium sized businesses in the UK.
For over 40 years we have specialised in funding this sector by means of asset finance. Since the recession we have continued to receive significant numbers of proposals every day from entrepreneurs who are starting new businesses.
Whether it is a new gym, beauty salon, coffee shop or restaurant or corner shop etc, these adventurous and hardworking people commit their savings, time and hard work to offering their services to the public – often with very little help and encouragement from anyone.
Through the efforts of our SMEs we see new investment being made in the economy, new jobs created and new contributions to the Exchequer.
Contrast the scenario in the UK with that in Continental Europe. In Spain 50% of all young people are unemployed and a quarter of all employable men and women are without work. Likewise, in France, also 25% of working age people are unemployed.
In the UK we frequently see large corporations shedding staff. Today HSBC announced the cutting of 8,000 jobs and last week Boots decided to reduce their numbers by 700.
With unemployment in the UK running at very low levels and increasing talk of insufficient numbers of job applicants, ask yourself why this country is hugely out-performing our competitors in Europe and most of the World.
At Armada we shall continue to support and encourage our SMEs and in our small way help them to drive the economy forward.
Our local baker or gift shop may seem insignificant in isolation but together the impact of these small businesses is powering the nation.