PUBLIC spending cuts to business funding and support will jeopardise businesses’ ability to grow, business leaders have said after a survey found businesses were still struggling to finance growth.
The survey, carried out by the Leeds, York and North Yorkshire Chamber of Commerce and the Leeds City Region Partnership amongst 154 business leaders, showed that 71 per cent of respondents thought the most significant barrier to innovation and growth was a lack of sufficient finance opportunities.
The Chamber has called for devolution of funding and decision making power on business support to local partnerships and reduced bureaucracy involved with government grants to improve access to limited public finances.
Ian Williams, director of policy at Leeds, York and North Yorkshire Chamber of Commerce, said: “We have seen some improvements in businesses being able to access finance compared to six months ago, but the public spending cuts means that many vital business support and funding programmes are seeing their budgets chopped.”
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