Norfolk Chamber’s Business & Finance Group met this afternoon to discuss the local economy and the actions to be taken. The group, consisting of accountants and bankers, identified that at present the lending market is somewhat subdued, with businesses not applying to borrow from their banks. Natwest, Barclays and HSBC all confirmed that their credit balances were high, due to many companies holding onto their cash and operating on a ‘wait and see’ basis.
However, everyone advised that their Start Ups were matching last year’s figures and were even expected to show in increase over 2011.
The decision was made to hold an event targeted at new business wishing to go to the next stage of their growth and development. More details to follow.
