The FSB is asking the government to do more to encourage competition in the banking sector. There have been concerns that the current lack of competition could lead us back into recession.
New data collected by a recruitment financer has revealed that the most deleterious effects of the global economic downturn are still to come for small and medium sized businesses.
The Investment Management Association has said that the government must not be detracted from the need to reform the UK taxation system just because spending cuts are being implemented.
SMEs and umbrella companies have been struggling to get much needed finance from the banks and Vince Cable has now put forward the government’s proposals to force the banks to make more funds available for small companies.
Small businesses across the UK are still struggling to obtain finance, in spite of the targets set by the government as part of its bail-out packages for some of the country's biggest banks.