Balance4business

SMEs shun big banks for funding

Businesses in the UK are shunning traditional overdraft and loan facilities from the high street banks according to in-depth nationwide study.

The SME Finance Monitor, which is funded by the high street banks themselves, shows that 50% of small and medium-sized companies describe themselves as “permanent non-borrowers” which is up from 33% from 2012. Indeed, only one in three SMEs are...