Conister comments: Bank of England Quantitative Easing measures welcomed by SMEs

Douglas Grant, Director of Conister comments on Bank of England Quantitative Easing measures and injection of an extra £150bn into the economy.

“The quantitative easing measures announced by the Bank of England today will be welcomed by businesses across the UK as the latest COVID-19 measures come into effect. SMEs in particular will welcome the news that the Bank of England is predicting that we will avoid another recession and that the deadline to apply for the Government’s Bounce Back Loans Scheme has been extended. However, businesses should look to capitalise on the measures put in place to structure their debt and ensure they are resilient in the face of the upcoming adversity to the sector.

“SMEs have shown a great deal of adaptability and resilience in the face on changing consumer behaviour and as such it is critical that economic and monetary stimulus in tandem with government schemes work in partnership with specialist lenders to continue to support the sector so that we can return to pre-crisis growth levels as soon as possible. We are determined and absolutely focussed on working with these companies to protect those robust businesses operating in sectors that are resilient and ultimately will grow stronger with the necessary capital in the long term.”

 

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