»»UK SMEs Unhappy with Trade Finance Services by Banks
According to a survey carried out by Credit Management Research Centre (CMRC), only 20.3% of businesses in United Kingdom seek trade finance advice from their banks.
The survey also reveals that 9.7% of companies never seek any trade finance advice.
These figures, when compared to the 2002 survey findings, clearly show a trend away from banks as sources of export trade finance advice. In 2002, 34% of exporters sought advice from their bank and only 7% never did so.
….Interestingly, SMEs were more likely to seek bank advice, with more than half of companies with a turnover of less than £10 million reporting they do so regularly. However, these companies also make up the majority of the 38% of companies that had experienced difficulties in raising finance from their bank.
(source)
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