An authoritative business banking report – huge choice and costs less than 20 years ago
An authoritative business banking report – huge choice and costs less than 20 years ago
In its 21st annual review of business banking, Business Money the industry journal in commercial finance and banking, has highlighted the wide, and ever growing, range of facilities available to the business owner/manager.
A highlight of the review, sponsored in 2014 by the Forum of Private Business, was that business bank charges have actually reduced over the last two decades at a time when all other overheads have risen, in the case of a first class postage stamp, by 140%.
Interviews with senior executives, Steve Matthews from an established provider, RBS/NatWest, and Jason Oakley, from a feisty newcomer, Metro Bank, offer a sharp contrast, but emphasise the choices in a fiercely competitive market.
Business Money editor, Robert Lefroy, commented: “The business banking arena in the UK is being reshaped by crowd lending, a continual stream of new challengers like TSB, Williams & Glyn’s, Aldermore, Shawbrook and more are arriving all of the time along with a host of hi-tech card-only account providers, trade financiers and invoice finance houses. The technology that has driven down business bank charges is now making far more flexible and accommodating lending facilities available to companies. As it is, 70% of all bank loan requests are being met with an approval and nobody wants to see the reckless lending that would create another raft of toxic loans.”
For a copy of the report please contact Sophie Grove on 01458 253536 or sophie@www.business-money.com.