Government welcomes launch of major new survey to find best Small and Medium Enterprises (SME) bank in Britain

On the 1 November the Chancellor has announced that the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC) will jointly conduct a new survey to show for the first time which bank offers the best service to SME in Britain.

The FSB and BCC will ask businesses right across the country to comprehensively rank Britain’s banks and other lenders. This independent and authoritative study will look at the quality of customer experience and products they provide to the nation’s small businesses. This is the first time such a survey has been conducted.

The FSB and BCC will engage with high street banks, challenger banks and alternative finance providers to ensure a full picture of service to the UK’s SMEs is created. The FSB and BCC will provide further detail of the survey in the coming weeks.

The survey comes as the Royal Bank of Scotland (RBS) sets out a new direction that will lead it to being a boost to the British economy instead of a burden, with an aim to become the number one bank for SMEs in Britain. RBS and other banks will be able to use the results to measure their progress towards becoming better banks for small businesses everywhere.

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