Hoban admits many SMEs still 'shut out' of equity finance

At a speech in London this morning, Hoban said he is aware many businesses feel "shut out" from the equity financing market, and government measures should improve access. He criticised some small businesses for becoming "over-reliant on bank lending as their primary source of external finance", when other types of funding might be more appropriate. But at the same time he put the onus on banks to take the lead in providing credit. He also called for financial services to "reconnect" with the wider economy. "Alongside improved access to finance, and a more secure regulatory base...