FOR IMMEDIATE RELEASE

The Forum of Private Business has welcomed the report from the Competition and Markets Authority into Retail Banking.

The Forum has long lobbied for greater transparency, and the CMA’s further opening of the business banking market to more competition can only be good news for businesses looking to grow their businesses.

Chief Executive of the Forum, Ian Cass commented, ‘We are pleased to see that the final report from the CMA reinforces the need for greater competition in business banking. For businesses that have not been supported by their banks for their cash flow and loan needs over the past few years, creating an environment where new entrants can indeed be part of their growth ambitions is good news. We rely on the CMA to ensure their recommendations are delivered as soon as possible.”

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About Forum of Private Business

The Forum of Private Business is a not-for-profit comprehensive business support organisation founded in 1977. Our membership is spread throughout the UK and primarily made up of companies that employ between 1-50 employees, helping them to manage employees, saving time, giving advice, support and protection where a business needs it.

We are a recognised leading authority on business issues and represent the interests of business owners on many consultative bodies. We have built a solid reputation, being influential in many areas of policy-making, in changing laws that affect small businesses, and we continue to campaign for the fair treatment of businesses within the UK.

Everything we do is about making sure our members’ businesses operate profitably. This means that every penny we make goes back in to supporting our members, providing the support and resources that will enable businesses to flourish and grow.