The trend to formalisation is largely a result of the greater availabilityofbankcredit and equity capital on the one hand, and recent changes that make it easier to register micro-businesses on the other.
And it points to the latest creditavailability figures from the Bankof England, which suggest that the amount of money available to lend out is at an all-time high.
It has opened a for-profit bank mortgage office to write loans and expand the availabilityofcredit, especially for mortgages in affordable housing developments.