small business groups

High Street Banks

Government reviews banks’ lending

The Government has set up a forum to monitor how the five major high–street banks lend to small firms, amid concerns that they are cutting back on lending. Chaired by Business Secretary Peter Mandelson, the Small Business Finance Forum held its first meeting on 11 November, and included representatives from banks and small business groups, as well as a panel of government officials. The panel is aiming to establish the availability, risk and overall cost of lending. Lord Mandelson said: “It’s critical we understand what finance is available for small businesses. The Government’s monitoring panel will give us greater insight into the situation at ground level.” The panel is made up of senior officials from the Department for Business, Enterprise and Regulatory ... »