Banking policy welcomed

BANKING reform proposals unveiled by the Scottish Government have been welcomed by small business trade group the Federation of Small Businesses (FSB).

The new strategy, launched earlier this month, includes plans to encourage banks to work more closely with public agencies on SME loans and the development of more ‘community banking’ in order to increase the number of products and services available.
Colin Borland, head of external affairs in Scotland for the FSB, said the changes would introduce “much needed competition into the business finance marketplace”, but warned that “bridges still need to be built” between big banks and small businesses.