MP steps in to get help for business trying to expand
PUBLISHED: 09:26 29 January 2009 | UPDATED: 13:54 06 May 2010
A LOCAL business which wants to expand but is struggling to get credit looks set to be helped by the Government, thanks to St Albans MP Anne Main. During the debate on the automotive industry in Parliament on Wednesday, the MP raised the problems which AH
A LOCAL business which wants to expand but is struggling to get credit looks set to be helped by the Government, thanks to St Albans MP Anne Main.
During the debate on the automotive industry in Parliament on Wednesday, the MP raised the problems which AHR International, a specialist distributor of bearings, has been experiencing since the economic downturn.
Although the business, which is situated in Soothouse Spring off Valley Road, St Albans, is apparently thriving, it cannot secure the funds it needs to expand and recruit more staff.
Mrs Main secured an agreement from Enterprise and Treasury minister, Ian Pearson, who promised to look into AHR International's situation.
She said: "When I visited the company last week, I was interested to hear that the business is thriving and looking to expand despite the economic downturn. This business is going from strength to strength and even in these difficult economic times it is keen to take on additional staff, which is surely welcome at a time when St Albans has experienced a 75 per cent increase in joblessness."
She added: "Enterprising businesses like this one should not be having problems accessing credit at this time, and yet they tell me they are unable to get hold of the funding they need to expand operations and create new jobs. I know they are not alone in discovering that accessing finance, despite the Government's rhetoric, is extremely difficult. Our businesses deserve a fairer deal."
Mrs Main added: "We certainly do not want to see viable, productive businesses like these being denied adequate finance by the banks. Growing small and medium businesses will be crucial to local prosperity. After all, the Government has promised more help to fund small businesses and this is a prime example of where the delivery is certainly not happening on the ground.