FSB calls for creation of a mediator

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FSB calls for creation of a mediator

Thu 16th Apr 2009

The Federation of Small Businesses (FSB) has called upon the government to set up a corporate mediator which could act as a go-between in deals between banks and small businesses.

According to a poll conducted by the representative body, 70 per cent of member companies are in favour of the proposal. Around one-third of small businesses believe there bank is less helpful than it was at the start of the downturn.

John Wright, FSB national chairman, claimed that the future health of the economy depended on mending the relationship between small businesses and lenders such as banks.

He added: "It is high time the government took some serious action and built bridges between the banks and the small businesses which keep our economy moving."

Mr Wright pointed to the mediators put in place by governments in France and Belgium as examples.

More than 215,000 small companies in the UK are members of the FSB.

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