Retailers hit by lending costs
According to The British Retail Consortium, retailers fear banks are hoarding cash and not passing on low interest rates, with 4 out of 10 witnessing the cost of lending increasing.
Small businesses are the victims of this. 44% of smaller retailers were hit by higher lending costs. Due to lack of credit availability, 60% has axed jobs to cope, whilst two thirds said it undermined their ability to trade.
Banks were blamed for the current economic recession and therefore are ensuring they save more money. For example, the number of mortgages being accepted is low, as banks no longer offer mortgages which home owners have no chance of paying back.
Until banks feel that they can relax more, it is unlikely they will be willing to lend money.
What are your thoughts? Are you a small retailer? How are you surviving the recession? Get in touch and let us know your thoughts!
Nice site!
Hi
Thank you for your great comment, glad you liked the post!
Very helpful post. Very clear commentary and suggested phrasing are most impressive, as are his and your generosity in sharing this explanation and example.
Hi
Thank you for your feedback!
Hello, I found your blog and have been visiting it for some time now. I think your move is a good one. I just wanted to tell you that I support you and agree with you.
Hi
thank you for your comment, very much appreciated!