New research on projected borrowing patterns highlights need for better relationships between banks and SMEs
The British Bankers' Association today launches the first ever 'Banking Code' aimed specifically at supporting small business in their relationships with banks. The code builds on the huge success of the Banking Code for personal customers, which was first published in 1991, and reflects a growing desire by banks to ensure small businesses are given the standard of service and support they need to help their business to flourish.
The code, which will take effect from 31 March, will provide transparent industry level standards. It will focus on empowering small businesses, helping them to understand and manage the relationship with their bank by offering detailed advice on standards of service, individual products and dealing with financial difficulty.
