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Banks 'must lend to SMEs to create jobs'

Published: Wednesday, 25 May 2011   Category: All Graduate job news

Banks must lend more money to small and medium-sized enterprises (SMEs), as this will boost the recruitment sector, according to the body which represents the industry.

The Recruitment and Employment Confederation (REC) have announced that banks must provide finance to smaller businesses, as this will help create more jobs - including graduate roles - throughout the economy.

Neil Smith, the chair of the REC, said that the financial support for SMEs will lead to recruitment firms creating more jobs.

"If the economy as a whole is going to create more jobs, then there must be sufficient support for the employment agencies who 'oil the wheels' of other businesses," he said.

"As banks do more to support SMEs as part of their deal with the government, it is important that the recruitment sector is included in this if all parts of the economy are going to benefit from a flexible, accessible workforce."

Graduate vacancies may be created by SMEs in County Durham, after it was announced that £24 million would be invested in an area of the country.

Find graduate roles at gradplus.com

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