Are banks failing small businesses?

Posted: Monday, 9 March 2009 @ 18:00

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

Blog by Gary Cousins
Gary has been providing legal advice to shareholders, directors and business owners for over 25 years. Specialising in dispute resolution Gary is based in Birmingham with clients throughout the UK and overseas. View profile
Call Gary on +44 (0)121 778 3212 or by email
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legal advice, nor is it intended to be a complete and authoritative statement of the law, and what we say might be out of date by the time you read it.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 article applies to your particular situation. We offer a free telephone consultation to discuss your particular circumstances.

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