| BBA planning to help small businesses |
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 The British Banking Association (BBA) is outlining its plans to help small businesses deal with the economic downturn.Research by the BBA has shown in the 12 months to the end of 2008, borrowing using business loans in the UK grew by 11 per cent year-on-year to £44 billion. Overdraft borrowing was also found to increase over the period by three per cent to £9.2 billion. Following the release of the results, the BBA is writing to MPs to explain the actions that banks are to take to help small businesses survive this period of economic uncertainty. Angela Knight, BBA chief executive, said the banking industry "remains a strong supporter" of small businesses. "Banks are proud to be working actively in this essential stratum of the UK economy and are committed to helping businesses through the economic downturn," she added. "But we have to be clear that as talk turns to recession it seems inevitable that some businesses will not survive, even with the best assistance that banks, government and voluntary agencies can give them." Standard Life recently urged businesses to be "savvier" with their savings as they can miss out on "significant" interest payments by not using a business saver account.  |
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