Miliband & The Banks

Miliband & the Banks Miliband has no experience of an SME dealing with a Bank:-professional politician who has never had a proper job!. Since I started in business in 1969, the ‘only’ times it has been easy for SME’s to obtain finance has been near or at the top of the ‘Booms’. The last one under Labour and Mr Balls! At all other times the business proposal has had to be good, with security, to raise finance from Banks. So asking Banks to lend willy-nilly to SME’s is courting disaster yet again! We have just come through the post boom criticism of Banks for lending rashly and now Miliband want s them to do it again! As we all move to ‘on line banking’ the most important service from the Banks is a good and secure web site not a Bank on every corner. And for new entrants to the personal banking sector the emphasis will be on line. Changing Banks on line is surely relatively easy so that is perhaps one aspect which needs tidying up. Making the big guys sell their poor performing branches to buyers who do not really want them, will only encourage them to look elsewhere for their domicile and business growth! I see in the news that employees of Goldman Sachs are already queuing up to leave!