in News by Vanessa Zainzinger. Permalink.
New banks are mushrooming across the UK, trying to compete with the Big 5 - but what would they need to offer so you would trust them with your business?
More bank lending – is that what UK businesses really need?
It's no secret that the funding landscape is changing. But as traditional lenders – the five big UK banks – are withdrawing from the once generous business funding market, new banks are taking the opportunity to jump in and do... the same thing again? Or something different?
The new breed of bank, from Handelsbanken to Co-Operative Bank, claim to be different from the goliaths in their industry. With more personal, transparent, convenient service they want to challenge the big players and convince business leaders that they are the better choice to fund their ambitions.
Real Business will be exploring this new breed of bank throughout the month and provide the platform for many business leaders' opinion on the matter. There is one main thing we want to find out: is this what UK's SMEs need?
It is on you to tell us whether you would be willing to trust the new UK banks with your business – and on what terms.
What is the most important thing a new bank needs to offer to shake up the business lending landscape?
Poll is now closed.
- A local, convenient and personal service, instead of modern call centres 18.87%
- Make it possible to work with one advisor who knows my business 50.94%
- International activity and competency to fund business export 1.89%
- Absolute transparency every step of the way 28.3%