Yorkshire losing out on bank funds

Yorkshire is at the bottom of the pile in the postcode lottery of bank funding, according to the Federation of Small Businesses.

The FSB was reacting to the latest figures from the British Bankers’ Assocaition’s Business Finance Taskforce, which shows that only 29 per cent of small sized firms in Yorkshire and Humber received the funding they asked for from the banks.

That compares with 45 per cent nationwide, 62 per cent in the North East and 72 per cent in Scotland.

Federation of Small Businesses regional chairman and Sheffield businessman Gordon Millward said: “These figures reflect the stark reality that finance isn’t reaching businesses that need it.

“It is doubly distressing that, while businesses in some regions seem to be doing quite well in raising finance, businesses in Yorkshire and the Humber are being placed at a distinct competitive disadvantage.

“Under one-third of the businesses in this region that want finance can actually get it. Where a firm is based in the country seems to have a major bearing. This data supports the suspicion that Yorkshire businesses are being treated as the poor relation.”