FSB highlights need for business banking improvements
By Sam Gooch
Nov 26, 2009 - 11:16:25 AM
It is imperative that business banking improvements are made, one organisation has claimed.
The Federation of Small Businesses (FSB) has called on the government to take action in increasing the availability of business banking services.
Commenting on proposals laid out in the Queen's Speech to address issues in the banking sector, the FSB states that any changes to the sector should not be used as political rhetoric but to actually make finance easier for firms to access.
Organisations on the search for business credit cards may be interested to hear the institution claim that there needs to be greater high street competition for business banking services.
Furthermore, it was claimed the availability of mortgages for self-employed Britons needs increasing.
John Walker, national policy chairman of the FSB, points out that although the past 12 months have been challenging for small organisations, many are beginning to feel more confident about the future.
He adds that banks are now beginning to lend to businesses, albeit at higher rates.
"It is important that any legislation in the next few months, particularly on the business bank account sector, helps to develop the good feeling rather than being used to divide up the political ground ahead of the general election," Mr Walker claims.
Such points come as a recent British Chambers of Commerce study showed 33 per cent of businesses believe obtaining finance has become more difficult over the last three months.
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