Bank branch closures hurt small firms

The rapid pace of bank branch closures across the UK is failing small business owners, according to a report by the Federation of Small Businesses (FSB). The report, 'Locked Out', has revealed that the total number of bank branches in the UK has halved in the last 25 years to just over 8,000 branches. A further 4,000 branches are expected to close between 2016 and 2026. As a result, the FSB is urging the Government to develop a UK-wide strategy to improve the availability of business banking services and access to face-to-face banking advice for small firms.

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