Faced with a barely growing economy, the government has targeted smaller companies as a major source of growth to encourage start-ups and make it easier for existing businesses to expand.

“Britain’s businesses cannot grow, export and innovate without proper access to bank credit. But they also need alternatives when looking for finance,” Mr. Cable said. “The government wants to see a shift in the market structure towards non-bank lending.”

According to the report published this month by Reuters, bank funding for SMEs has shrivelled in the wake of a global banking crisis, which has made traditional lenders more cautious and, according to a recent UK study, created a cash-flow crisis that is stifling small firms.

That's why we are backing Britain with our new initiative - launched in The Times - Finance Britain.