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Are banks failing small businesses?

Monday March 9, 2009 at 6:00pm

According to a recent poll by SmallBusiness.co.uk,

80% of those polled said their banks have failed to offer support;
48% said their bank had no understanding at all;
28% said they had been supportive verbally but not in action; and
10% said that their overdrafts had been cancelled.

On the positive side:

7% said their bank had been more supportive than expected, and
4% said they had been very constructive and helpful.

With these sorts of client-care statistics, you’d expect any modern business to fail. But, of course, banks are immune to these market pressures, especially now they are supported by the taxpayers.

What do you think of your bank?

Gary Cousins, Business Solicitor

» Categories: General, Business
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This blog is not intended to constitute legal advice, nor is it intended to be a complete and authoritative statement of the law, and what we say might be out of date by the time you read it. You should always seek legal advice to confirm whether or how any information in this blog applies to your particular situation. We offer a free 30-minute telephone advice session to discuss your particular circumstances.

1 Comment

Teresa | March 11, 2009 @ 11:05am
It's crazy in the current climate to read in this survey that banks apparantly lack real understanding of the problems faced by business. When will big British institutions start to employ or at least listen to people with real business experience?...

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