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FSB on Scottish Government business finance report PDF Print E-mail
Wednesday, 25 March 2015

Today the Scottish Government has published a new report examining business finance issues in Scotland. The report highlights that RBS and Lloyds Banking Group continue to account for more than 70 per cent of the small and medium sized business banking market north of the border.

Around one in four Scottish businesses continue to warn that accessing external finance is an obstacle to the success of their business, the official data shows. The report also underlines that business finance problems are more pronounced in small businesses than medium-sized firms.
 
Colin Borland, the Federation of Small Businesses’ (FSB) head of external affairs in Scotland, said: “Ahead of the General Election, we’re calling on all of Scotland’s political parties to commit to developing a business finance model that works for small businesses.
 
“Two banking behemoths continue to dominate the Scottish business finance market. Until we see more players fighting for the smallest firms’ custom – we’re unlikely to see the innovations and levels of service which our economy needs.
 
“Lastly, while public sector interventions are to be welcomed, a large number are focussed on a small group of high-growth businesses. We need to see better co-ordination in this area and the development of an approach which helps all sorts of Scottish enterprises.”

(Source - FSB Press Release)
 

 

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