It’s no secret that the reputation of the main high street banks has been eroded over the past few years, not least in the eyes of those running small and medium-sized enterprises (SMEs). And, while the new wave of challenger banks have been heralded as saviours, they are beset by many of the same underlying problems as their older, larger siblings.
We recently surveyed more than 500 medium sized UK businesses about their experiences when seeking external funding: how often, how much, what for and where from.
The high street bank continues its move from community cornerstone to museum piece – to the detriment of Britain’s small businesses.
How the collapse of global finance a decade ago decimated SME lending and catalysed an alternative