Businesses from the high-tech and knowledge economy have told a leading Bank of England economist that access to finance remains their number one headache.
A range of companies from the University of Warwick Science Park met Spencer Dale, the chief economist from the Bank of England.
The Science Park is home to a range of technology and science-led companies and also supports and assists other firms not based on the park’s four sites in Binley, Coventry, Warwick and Blythe Valley in Solihull.
David Grindrod, acting director of the University of Warwick Science Park, said: “We were delighted to welcome Spencer Dale to the Venture Centre at the University of Warwick Science Park to give some of our companies the opportunity to feedback.
“Many issues were discussed but the clear message was that it is still very difficult to access the finance needed to grow, particularly through traditional sources.
“Companies are having to rely more on Angel investors, such as the Minerva group here at the University of Warwick Science Park.
“It’s a good barometer for the Bank of England to take away because the types of the companies based here or supported by the Science Park are the very kind that are going to be key to the future of our economy.
“Knowledge, innovation and research are all going to be key components in growing our economy and that is what this small group of companies represented to Spencer Dale.”
