REC Welcomes Support Package For Small Business

The Recruitment and Employment Confederation (REC) has said it welcomes Government plans to give financial support to businesses.

The Government plans include proposals to guarantee £1.3billon of loans to small companies and a guarantee of up to £21billionn of bank lending for small and medium-sized businesses until 2011 .Also included is a £75 million enterprise fund available for small firms which need equity investment. It has been announced by Business Secretary Peter Mandelson that these will go live immediately.

Commenting on this, REC Chief Executive Kevin Green said “This will come as welcome news for recruitment companies who play a valuable role in finding work for people who have lost their jobs during the economic downturn. The Government therefore must ensure that enough financial support is available in these difficult times."