Commenting on today's announcement that the Clydesdale bank will shrink its UK operation and cut 1400 jobs, the Federation of Small Businesses' (FSB) Scottish Policy Convener, Andy Willox OBE, said:
"The Clydesdale bank is a key player in the Scottish small business banking market. Any change to the banking services and financial products which Clydesdale Bank provides could have a significant impact on the wider Scottish economy.
"For some time, the FSB has been arguing that Government needs to develop alternatives sources of finance to the small business community. In Scotland, too few institutions currently provide finance and banking services to small businesses. Today's announcement highlights why this makes the Scottish economy vulnerable."
• The FSB is the UK's leading business organisation with around 200,000 members UK-wide, 20,000 of whom are in Scotland. It exists to protect and promote the interests of Real-Life Entrepreneurs who run their own business. More information is available at www.fsb.org.uk/scotland
• In March 2011, the Scottish Government published its SME Access to Finance Survey Report 2010. On pg 49, it highlights issues regarding market concentration: http://www.scotland.gov.uk/Resource/Doc/981/0115179.pdfhttp://www.scotland.gov.uk/Resource/Doc/981/0115179.pdf
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