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The small-business sector in the UK has been struggling recently because of the lack of loans available for them meaning they are unable to grow their businesses as quickly as would be possible if they were provided financing. Loans are often very useful for small companies as they allow them to employ new staff, and [...]  While banks are competing more aggressively for new accounts, small and medium businesses, SME’s, are less than enthusiastic about the service they receive. Banks have been forced to look at their own margins as they introduce new products to attract new customers but the focus is perceived by customers to be more about increasing the [...] Building Society Nationwide is to become a lender to small business, with the news expected to boost the SME market as more competition should lead to better rates and improved credit conditions. Nationwide plans to become an important player in the small business sector and its plans are expected to place pressure on the bigger [...] The Banking Sector responded to criticism over how it treats small businesses in need of lending by saying that many of those who work out of serviced office space can now make use of the ‘lending taskforce’ which includes all of the six major banks in the UK such as the RBS, Barclays, and Lloyds. [...] Yesterday, the government embraced the report findings that called for an additional fund to help fill the gap left in funding for SMEs that are growth-focused. The report which is referred to as the Rowlands Review and was headed by Chris Rowlands, a member of the Principality Building Society; shows that market failure is common [...] |
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