Since 1989, banks and building societies in Britain have been shutting branches at a rate of approximately 300 per year, a trend which has dramatically accelerated in recent years as traditional lenders respond to pressure on cutting costs, according to a recent Reuters article.
Against a backdrop of fewer traditional lenders focusing of less commercial and industrial sectors, small businesses are finding it harder to access the finance they need, in an environment where many fixed costs are rising. As a result, alternative lenders have stepped in to fill this gap.
This story is from the April 2018 edition of Think Business.
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This story is from the April 2018 edition of Think Business.
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