Business Finance – not Whitehall – is the real driver of UK growth, says FLA chief executive
Finance & Leasing Association (FLA) chief executive Shanika Amarasekara MBE has today called for greater recognition of commercial finance as a critical driver of UK economic growth, arguing that the investment decisions made by businesses across the country are the driving force behind productivity, job creation and economic expansion.
Speaking to industry leaders, she highlighted the vital role that commercial finance plays in turning business ambition into action, enabling firms to invest in new equipment, technology, vehicles, property and working capital that support growth and competitiveness.
Shanika said: “Growth rarely starts in Whitehall. Growth starts when somebody decides to invest. It starts when a manufacturer buys a new machine, when a logistics company adds vehicles to its fleet, or when an entrepreneur chooses to expand rather than stand still.”
Shanika went on to argue that commercial finance should be viewed not simply as a collection of products, but as the financial infrastructure of the real economy – providing businesses with the confidence and capability to invest even in challenging economic conditions.
Shanika added: “We continue to see encouraging signs across parts of the market. Asset finance new business was up 9% in March and up 3% across the first quarter, with a record £4.5bn of new business in March alone. That is encouraging. But this is not a simple recovery story. Confidence remains uneven. And increasingly, confidence is becoming one of the most valuable things this market provides.”
Shanika stressed that lenders and brokers have a shared responsibility to help businesses make informed investment decisions, with stronger collaboration leading to better customer outcomes, earlier identification of emerging risks, and a more effective collective voice in discussions with policymakers and regulators.