With the current state of the economy, we’re all tightening our belts and trying to get through. This attitude apparently includes the big banks who really should be making every effort to support small business and new start-ups after the tax-payers were forced to bail them out of trouble in recent months.
The current news trends show that the opposite is true. Although the big banks defend themselves saying they are lending more, they have failed to reach the targets set by the previous chancellor Alistair Darling. The Forum of Private Business has an interesting insight into the current lending situation in their article – “Never Mind Not Lending Money to SMEs – the Banks Aren’t Even Lending Them Their Ears!”
Similarly British SME has an article about a rise in the number of complaints being made against the banks by small businesses to the Financial Ombudsman – “Bank loan complaints more than double”. The facts clearly show that the banks aren’t doing what they should to support small business within the UK. Which perhaps isn’t the best idea in the long-term when you consider that it is the businesses who will help bring the country out of the recession and bring the banks back into profit.
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