Ahead of the final leg of the Treasury Committee’s inquiry into SMEs' access to financing, recent data reveals that 2.7% of small business accounts have been shuttered by their respective banks within the past year.
The data, sourced from major institutions including Barclays, HSBC, TSB, Lloyds, Santander, NatWest, Metro, and Handelsbanken, underscores the challenges faced by SMEs in maintaining banking relationships. Notably, Paragon was unable to contribute to the dataset.
