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Businesses in serviced offices might need 'to build trust with banks' 16th August 2010

Small businesses - including those in serviced offices - might need to develop a relationship of trust with banks in order to gain access to finance.

That is according to Andrew Cave, head of policy at the Federation of Small Businesses, who said the model of financial lending has broken down in more ways than simply access to funding.

Emerging companies need to build a rapport with a person in the bank in order to have the assurance to bid for contracts, he commented.

"Coming out of the recession there isn't that understanding and that relationship that will take the level of confidence through to taking that risk," Mr Cave continued.

Banks need to work with and help small firms, he added, if they are to gain a greater access to funds, which could assist those seeking a move to a serviced office to obtain a loan.

Recently, a board of business leaders discussed the challenges facing company start-ups and how these can be addressed at a T-Mobile Business Sense Roundtable.
 

 

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