Press releases and events

FSB: Small businesses must be recognised in bank rescue package

FSB logo for press releasesFSB logo for press releases

Wednesday, 08, Oct 2008 12:00

The Federation of Small Businesses (FSB) today called on the Government to put small businesses at the forefront of the bank restructuring programme.

With millions of small businesses strapped for cash and seeing an increase in costs and a decrease in trade it is vitally important that the relationship between banks and small businesses is put on a sounder footing.

At a time when bank charges are rising for small businesses this is an opportunity to include specific policy measures for business owners in the rescue package.

Today’s announcement by the Government in making available £50 billion to the UK’s top eight banks should be coupled with reassurances from these very same banks that they will extend loans to small business on a normal financial basis.

Commenting on behalf of Britain’s 4.7 million small businesses, FSB National Chairman, John Wright, said:

“This is an ideal opportunity now that the government has a big stake in the banks to enter into a constructive dialogue with them about their commercial practices and their charges regarding small businesses. Almost half of our members have seen an increase in the cost of finance over the last year. It is crucial in these tough times that small businesses have access to fair overdraft and loan rates. Today’s announcement should be coupled with assurances that more money will be made available to small businesses to help sustain them and get them through the next year.”

ENDS

Notes to Editors

1. The FSB is Britain's leading business organisation with over 215,000 members. It exists to protect and promote the interests of the self-employed, and all those who run their own business. More information is available at www.fsb.org.uk.

Contacts:

Stephen Alambritis: 020 7592 8112 / 07788 422155

Sophie Kummer: 020 7592 8128/07917628998

Prue Watson 020 7592 8121 / 07825 125695

Marc Shoffman 020 7592 8113 / 07595 067068

For regional FSB contacts please go to www.fsb.org.uk/regions

Disclaimer:
Press releases published on this page are from key opinion formers who promote their organisation's activities by subscribing to a campaign site within politics.co.uk. politics.co.uk does not endorse, edit, or attempt to balance the opinions expressed on this page. The content of press releases are wholly the responsibility of the originating company or organisation.

Latest press releases

FSB: Small businesses urged to sign up as school governors

The Federation of Small Businesses (FSB) and national charity School Governors’ One Stop Shop (SGOSS) will today mark Enterprise Week by entering into a Memorandum of Understanding to encourage more small employers and their employees to become school governors.

FSB: Government must cut tax and provide new funds for small firms in the Pre-Budget Report

The Government must announce a new £1billion fund for small firms in the Pre-Budget Report, the Federation of Small Businesses (FSB) said today.

Use the internet to increase sales during the downturn, says the Federation of Small Businesses

Nearly half of small businesses that use the internet to advertise their firm increase turnover by one fifth, according to new figures released by the Federation of Small Businesses (FSB).

FSB: Post Office card account announcement good news for small business

The Federation of Small Businesses has today welcomed the Government’s decision to award the Post Office Card Account (POCA) contract to Post Office Limited which will save thousands of small businesses.