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Businesses 'want greater access to finance'

Date Added: 09/08/2010  

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Companies receiving business debt advice may benefit if policymakers act upon calls to improve access to finance.

According to the Forum of Private Business (FPB), firms would like to see more done to ensure funds are available to them when required.

However, it noted positive signs in the banking industry are starting to emerge, which could potentially improve the ability of businesses to grow.

For instance, the FPB said banks are reporting fewer bad debts, while many of the organisation's members have seen greater profitability and an increase in turnover during recent months.

This coincides with calls from Stephen Williams of the Liberal Democrats for the Royal Bank of Scotland (RBS) to step up its lending to businesses.

He said the bank is almost entirely owned by the taxpayer, which means it should use its "huge profits" to support viable British firms rather than pay "massive" bonuses to senior staff.

"There is no excuse for RBS not to loan to good British companies that are struggling to get credit," Mr Williams stated.

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