Forum of Private Business comments on the findings of the CMA study into small business banking

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"Certainly more transparency is needed for easier comparison of products and more needs to be done to address the chronic decline in local branches. 

“However, finance for businesses is not just an issue with banks. Increasingly, we are seeing larger companies use their supply chains to boost their own cash flow, a situation that is not acceptable and one that also merits investigation.”



Commenting on the Competition & Markets Authority (CMA) report that small business banking is not working well for customers, Alexander Jackman, Head of Policy at the Forum of Private Business, said:

“We are pleased the CMA is looking at the area of small business banking. We must ensure that the barriers to entry for new banks are reduced without compromising protection and will see what the appetite is from small businesses for an in-depth investigation into competition in the sector.