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Banks 'not lending enough to small businesses' PDF Print E-mail
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Latest Recruitment News - HR and Recruitment Legislation News
Written by DirectNews Feed   
Thursday, 17 June 2010 00:00
Banks 'not lending enough to small businesses'An expert said yesterday (June 16th) that small companies' discontent with Britain's financial sector is being fuelled by banks' reluctance to lend money in the aftermath of the global economic downturn.

Earlier this week, the Federation of Small Businesses (FSB) released the results of a survey which showed that around one-quarter of all smaller firms in the UK are currently dissatisfied with the service they have received from their bank over the last year.

And Emyr Williams, director of the small and medium enterprise advice website bytestart.co.uk, believes that this is primarily because banks are perceived by the business community to be more interested in recovering their own financial wellbeing rather than that of their customers.

"Instead of providing much-needed funding for businesses many banks are now trying to repair their balance sheets," he said.

This has led to a feeling among companies that financiers are punishing them for their own mistakes in the recent past, Mr Williams added.

Posted by James Strang
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