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Regional Stock Exchange for Manchester?

Idea will help SMEs raise equity and cut down costs, says Cable

Published on July 26th 2010.


Regional Stock Exchange for Manchester?

Manchester could revisit the idea of a regional stock exchange a new idea by the coalition government gets off the ground.

Business secretary Vince Cable has tabled the proposals in order to help small and medium-sized businesses attract capital and avoid the cost of listing on the Alternative Investments Market (AIM) and the London Stock Exchange.

A new green paper formalising the idea suggests extending the guarantees the Treasury provided on loans to smaller firms. Manchester and Edinburgh have both hosted trading centres in the past.

Cable said: 'There are an awful lot of successful medium-sized businesses that can’t even get into the London Stock Exchange because it is very expensive to list. They even find it hard to get on to Aim, which is supposed to be for growth companies.'

The number of listed companies in Greater Manchester has dropped away in the last two years, for a number of reasons including the cost, poor trading and business failures.

The government also gave a further indication of how the regions may play their own part in developing the private sector this week with the opening of a new university college with a base in Manchester.

The BPP College of Professional Studies is based in Holborn, London, but also has a faculty in Manchester, on Oxford Street, where it offers courses and training in the legal sector.

The college offers classrooms and a 100 plus person lecture theatre and employs tutors and careers and pro bono staff to deliver the courses.

In September 2010, it will start a ‘High Street Extra’ course, covering areas of practice key to High Street or small firms that provide general legal services.

It works with the local advisory panel, which includes Beachcroft LLP, Co-operative Financial Services, DWF and Mace & Jones.

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Leigh ScottJuly 26th 2010.

superb idea

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