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Banks 'can do more to help company debt advice customers'

Date Added: 15/10/2010  

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Company debt advice customers will be pleased with recommendations outlined in a new report, the British Chambers of Commerce (BCC) has suggested.

Commenting on the Business Finance Taskforce study which came to light earlier this week, the organisation stated its belief that more needs to be done by financial institutions to support business.

David Frost, director general of the BCC, explained that he is pleased with the publication of the report, which recommends measures such as increasing access to funding for firms in need of company debt advice.

"We need to remember that many businesses are not seeking equity investment - so the improvement of lending processes and business-bank relationships must be the focus of any reform effort," he said.

Mr Frost added that company debt advice customers need the changes to be imposed as quickly as possible.

Matthew Fell, director of competitive markets at the Confederation of British Industry, also welcomed the report, stating that it will benefit organisations. 

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