Despite the ongoing concerns over access to finance, charges and calling in loans, small business owners in the UK remain reluctant to switch banks according to the latest research from the Forum of Private Business.

The Forum’s banking and finance survey indicates that just over half of small businesses surveyed were content with their current banking arrangements and thought they offered good or excellent value for money, with a further third suggesting it was an average offering. However, businesses did indicate that bank charges, the reduction in lending and the calling in of loans or overdrafts were harmful and remain a cause for concern.

Phil Orford MBE, Chief Executive of the Forum of Private Business said, “A growing economy poses its own issues for small businesses, as they decide whether to invest for expansion. The government, the banks, other lenders and businesses support organisations are all important enablers of growth and need to work together to ensure small businesses are getting the necessary amount of money in the right format.”