Businesses 'feel unsupported by banks'

6 May 2011

An increasing number of UK businesses feel that banks are continuing to be unsupportive of their financial needs in the aftermath of the global economic downturn.

That is according to new research published by R3 earlier this week, which found that a total of 24 per cent of all strongly disagreed with the notion that they are being provided with adequate levels of help from financiers.

This represents a seven per cent increase on the figure recorded in the corresponding study conducted in September of last year, while the insolvency body also revealed that a quarter of companies are concerned about their debt.

Francis Coulson, president of R3, commented these figures are indicative that "a growing proportion of the business community is either struggling to service their existing debts or finding it hard to acquire further lines of credit".

This comes after Money Marketing reported that Chris Lesley, Labour's Treasury financial secretary, called on the government to review the UK's bank taxation system.

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