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UK small businesses dismayed by bank services

A survey released by the Federation of Small Businesses has today cast a very dark shadow across the UK small business arena. It seems that over 1 million small businesses in the UK are unhappy with the standard of service offered by UK banks with many dismayed by the fact that "bank manages" are often located miles away from their customers.

This will come as no surprise to those who operate in the small business arena which has been starved of liquidity during the recession. Indeed we have seen a number of businesses, which on the surface only required short-term assistance, fall by the wayside due to ever stricter lending criteria invoked by the UK banking arena. Despite the fact that the UK authorities have "insisted" upon an increase in lending to the small business arena we have yet to see any meaningful change so far.

When you consider that any small business today could be a larger business of the future, bringing in taxes and providing employment opportunities, there is a need for the banking industry to "invest in the future". The longer this situation is left unchanged the more small businesses will go out of business and ultimately the UK economy will suffer.

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