Lynne Featherstone visited the Noel Park, Wood Green branch of Barclays Bank on Friday 11th May and heard from staff how they are supporting local businesses. She urged the bank to engage with the community to ensure that local people who want to set up a business have every chance to succeed.
Lynne Featherstone, Liberal Democrat MP for Hornsey and Wood Green, commented:
“It is encouraging to hear about businesses in Wood Green that are succeeding and growing despite the difficult economic climate. Banks need to give the right support to local businesses and that is why talking to them is so important. Cash flow is clearly a problem for many businesses and that is where high-street banks can make a real difference if they offer the right support.
“The coalition government has delivered lower taxes and less red tape. They will help get business moving again.
“Vince Cable’s government department also announced last week that the government-backed Angel Co-fund has made its first investment in new businesses. The £50million fund aims to support new small businesses in partnership with private investors.”
Rehanaz Noor, Barclays Bank manager of the Noel Park branch commented:
“Our commitment to the area is demonstrated by the fact that we have made a major investment in refurbishing the Noel Park branch. Our small business customers have remained resilient throughout the downturn with many adapting and diversifying to ensure they remain successful and most have survived and are starting to look at growth opportunities now. The start up market has been vibrant with many people taking the opportunity to start their own businesses using the skills they have.”