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Federation of Small Businesses East Berkshire
c/o Jon Davey
1 Clewer Hill Road
Windsor
Berkshire
SL4 4BU
Tel: 01753 852904
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Bank branch managers must be held to account
FSB tells banks at new business forum: Bank branch managers must be held to account

Federation of Small Businesses survey names banks as the biggest growth barrier for small businesses

The Federation of Small Businesses (FSB) is calling for bank branch managers to be held to account for their treatment of small businesses at the government’s new Small Business Finance Forum meeting this week, after small firms identified accessing finance from banks as the biggest barrier to their growth.

In the FSB’s biennial survey of sector trends, members identified banks as both key to getting financial support, but also as one of the biggest barriers to their growth because of problems accessing finance.

The FSB is using the Business Secretary Peter Mandelson’s new forum for small firms and banks to thrash out their problems to call on branch managers at a local level to implement announcements made at a national level; and to foster closer relationships with their business customers to help them achieve their future goals.

Meanwhile, the FSB wants to see more banks applying for European Investment Bank money to distribute to small businesses as outlined in its new Small Business Survival package.

The FSB survey of around 8,700 members, titled Putting the Economy Back on Track: Business Support and Finance, was compiled by professors at the University of Glamorgan, in Wales. It reveals that more small businesses thrive on personal relationships for advice in areas such as starting up; recruitment; marketing and product development, compared with the last member survey in 2006. The number of members who consulted their customers leapt from 15 per cent to 80 per cent this year. Around three quarters said they went to informal sources of support, such as other businesses, personal advisors, suppliers and family, compared with around 17 per cent last year.
Meanwhile, the statistics showed that those who have used banks or the government as a source of advice have been dissatisfied with the service and described access to finance as a significant barrier to their growth.

Mary Flavelle, FSB East Berkshire Chair said:
“The figures show that small businesses thrive on personal relationships when seeking support such as marketing, recruitment and access to finance. However, there is evidence that new and growing firms, which require finance from their banks, are experiencing barriers to accessing funds and therefore not getting the same sort of close contact with their banks.
“We would like to see the first meeting of the new Small Business Finance Forum call bank branch managers to account to ensure that they do more to show how they can support small businesses in order to help this crucial sector and get the economy back on track.”

Dr Gary Packham, an author of the report and Head of Enterprise at the University of Glamorgan, said:

“These findings illustrate that action must be taken immediately for small businesses to gain access to vital funds to ensure their growth and survival. People often do not realise that small businesses are the backbone of the economy, employing 13.5 million people and contributing over 50 per cent to UK turnover, therefore it is vital that this sector is given the necessary support and backed up by fair and flexible credit.”



In this section:
Meet the FSB
Small business call for lower London Interbank Offered Rate
East Berkshire FSB boost morale of small business
FSB response to the Queen's Speech 2008
Meet The Local Bankers
FSB launches Bank Watch Scheme
Small business champions to be announced at national ceremony
Bank branch managers must be held to account
FSB Small Business Survival Package
FSB Weekly Brief - Friday 24 October 2008
East Berkshire FSB new chair Mary Flavelle
FSB Media Coverage for this week
East Berkshire FSB Annual Networking Dinner
The largest UK business support organisation just got bigger!
Prime Minister urged to adopt key small business measures
Spotlight on small business at party conference
Networking Breakfast
Weekly Brief : Week 31 of 2008 : Friday August 1 2008
Meet the FSB
Golf Day & Evening Dinner
Why should you join the FSB?
Meet the FSB Networking Breakfast
Windsor Racecourse Business Networking
Weekly Brief - Week 8 of 2008
Weekly Brief - Week 7 of 2008
Curry Networking Evening
FSB Weekly Brief
Revisions to capital gains tax
Meet the FSB
Small Business Contracts for 2012 Olympics
Weekly Brief - Week 2 of 2008
Low Emission Zone
FSB Christmas Networking Lunch
FSB Weekly Brief - Friday 16 November 2007
Competition Commission lets supermarkets off the hook again
Pre-Budget Report is an absolute stinker for small businesses
Rest of UK should learn from Scotland
East Berkshire FSB AGM
Online marketing rookies 'could get help'
Networking BBQ
FSB Speed Networking
Are Small Firms Happy With Banks?
FREE Networking Event
FSB Weekly Brief 18 of 2007
FSB Weekly Brief 16 of 2007
FSB Weekly Brief 15 of 2007
FSB slams lazy HMRC campaign
FSB Conference 2007 Takes Shape
Businesses Fear UK Economy Will Suffer in 2007
Government Told to Buy Better to Save Taxpayers’ Money

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