Business cranky with their bank but staying put
Research by East & Partners indicating that while there is growing dissatisfaction among small firms with their banks, fewer of them were prepared to switch lenders. Eighty per cent of responses from 525 firms in the $1 million-$20 million turnover category said their banks had shown little or no loyalty, while nearly half said the cost of loans had risen in the past six months.
Forty-two per cent said access to credit and the cost and conditions attached to lending were holding back expansion, compared with 23 per cent who said cash flow was the main hindrance and 20 per cent who cited lack of equity capital.
Source: Sydney Morning Herald