bad advice

47% of Business Owners Claim Their Bank Gave Them Bad Advice

47% of Business Owners Claim Their Bank Gave Them Bad Advice

47% of UK small business owners claim that advice they received from their bank had a negative impact on their enterprise, according to a report by Amicus Commercial Finance. The survey of 504 small business decision makers revealed that 16% admitted their firm is now in a worse position having accepted such recommendations – with 40% saying the service they’ve received in the past “isn’t good”. The relationship between small businesses and traditional lenders appears to be straining, with 30% of enterprise owners refusing to describe their bank as ‘helpful’, while 46% wouldn’t describe them as ‘flexible’ either. When quizzed about their biggest grievance with modern day banks, respondents cited having to deal with call centres as a means of customer service as the biggest – believing them... »