I believe Applied Language Solutions would never have experienced such aggressive and sustained growth, had it not been for SFLG. With their support, we are now in a very healthy position as the world's fastest growing language service provider.
Manchester, Greater Manchester (PRWEB) October 28, 2008
As CEO of the successful Translation Company, Applied Language Solutions, Gavin has also written to Business Secretary Peter Mandelson, to raise his concerns regarding the Government's reaction to the pending recession, outlining a few suggestions to help smaller companies survive and grow.
His petition is for the expansion of the DTI's Small Firm Loan Guarantee (SFLG) scheme. As a previous beneficiary of the scheme, Gavin is a great believer in it's benefits and its impact.
Gavin set up Applied Language in 2003 from his back bedroom in Manchester and the company has grown considerably year on year. Now with a 95 strong team based in 9 offices worldwide, Applied Language provide translation services, interpreting and localisation services to some of the world's most recognized and respected brands.
Gavin has proposed an amendment suggesting that the SFLG should increase the current lending guarantee up to £1,000,000 worth of borrowing during the first seven years of trading provided, that like the current scheme, certain criteria are met.
Gavin freely admits,
"I believe Applied Language Solutions would never have experienced such aggressive and sustained growth, had it not been for SFLG. With their support, we are now in a very healthy position as the world's fastest growing language service provider."
Currently under the SFLG scheme, small firms who meet certain criteria are eligible to have up to £250,000 of their lending repayments guaranteed by the Government, for the first five years of trading. The measures within the criteria have proven to help sustain small companies and allow for their growth, as well as bring small companies in line with relevant fiscal legislation.
"Small businesses are the lifeblood of the British economy and their stability will be a direct measure of how quickly we can come out of, what now looks like a certain recession. With forty small businesses going bust with each passing day, something more has to be done to circulate money between businesses and not just between banks. That is why I've started this petition, which if taken up, would cost at the very most £4 billion. When you see what little impact the £500billion pumped into the financial system has had, it would be small change for a big difference."
"Small businesses make up half of the UK's turnover and the banks have been given no incentives to lend. They aren't even getting any breathing space with debt due to the nationalisation of some of our major banks. Adequate guarantees will ensure that many companies, and mine is a sound example of this, can afford to re-invest and grow, by taking on more employees and securing a long-term future."
Visit the Applied Language Solutions website for a free quote at http://www.appliedlanguage.com. For further information please feel free to call Applied Language Solutions +44 (0)845 367 7000 in the UK or +1 (800) 579 5010 in the US to talk to one of the team.