• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

British Bankers' Association press statement on Small Businesses

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • British Bankers' Association press statement on Small Businesses

    source: BBA Association - Banks pledge support for small businesses

    Banks pledge support for small businesses


    23/10/2008

    The UK's leading high street banks today promised to continue to support small businesses through the downturn, the British Bankers' Association said today.
    The BBA is writing to MPs today to set out the actions banks are taking to help small businesses deal with the downturn. BBA chief executive Angela Knight said:
    "The UK banking industry has always been and remains a strong supporter of small businesses. Behind every successful entrepreneur, there has been an initial helpful relationship with a bank manager who shares the business vision. Banks are proud to be working actively in this essential stratum of the UK economy and are committed to helping businesses through the economic downturn.
    But we have to be clear that as talk turns to recession it seems inevitable that some businesses will not survive, even with the best assistance that banks, government and voluntary agencies can give them. The businesses that will succeed through this downturn are those currently reviewing their business plans and engaging with their banks to prepare for a slump."
    The BBA has also issued statistics showing that in the 12 months to the end of June 2008:
    • more than half a million new small businesses were created
    • borrowing using business loans grew by 11 per cent to £44 billion;
    • borrowing on overdrafts stood at £9.2 billion - a three per cent on-year rise; and
    • total deposits stood at £54.5 billion - a six per cent on-year rise.

View our Terms and Conditions

LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
Working...
X