Lord Alan Sugar of The Apprentice has branded firms that complain about the lack of bank finance as whingers that deserve nothing from the banks.
He also said that such firms were normally ‘skint’ and ‘you wouldn’t lend them a penny’.
Basically he said that those companies that the banks would be amenable to lending to do not want to borrow, only those that should fall by the wayside are looking to keep breathing life into their failed businesses via the use of credit.
“In the case of banks not lending money to companies… a lot of companies are depressed and don’t want money. They’re tightening their belts and they’re not interested in expansion. Those are companies that the bank would lend money to.” He said “The other side of the coin are the moaners. They’re all skint and you wouldn’t lend them a penny. They’re the ones who shout and scream and find a journalist or a politician.”
The Labour peer also dismissed the efforts of the coalition government to kick the banks into lending more as pure electioneering. Just last week he accused the business secretary, Vince Cable, of ‘hollow’ initiatives and being in no position to understand the needs of business.
He went on to say that the UK needs to build up an enterprise culture like that of the US where they were already starting to talk the economy back up. Something Britain felt unable to do as yet.
Then to further ingratiate himself with small businesses feeling the squeeze he defended the bonuses paid to the state owned banks’ executives.
Love him or hate him he does take a stand!