With traditional forms of lending to SMEs in short supply, the UK's Forum of Private Business says that a move away from bank lending could help many firms.

More than 2,000 UK technology companies have bid for grants to fund proof of concept projects, in a competition organised by the Technology Strategy Board.

After the proposed Small Business Act, now it’s the turn of the European Commission’s wealthiest department – the regional policy directorate – to do its bit for SMEs.

Research Commissioner Janez Potocnik called for Europe to adopt a global culture of entrepreneurship in the face of the challenge from China and India.