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FSB backs campaign for local banks

The Federation of Small Businesses (FSB) has thrown its weight behind a campaign to keep business banking at a local level.

The Campaign for Community Banking Services is a coalition of 25 organisations which are concerned about branch closures, financial exclusion, community sustainability and the environment. Since 1990, 40% of British bank branches have been closed.

A spokesman from the FSB said:

"Nearly two-thirds of small businesses need to visit their bank at least weekly and one in ten do so every day. These small businesses generate over 50% of UK GDP so a comprehensive network of bank branches is essential.

"A good local banking network also ticks the environmental boxes. Branch closures not only add considerably to carbon emissions, but also increase small business costs. Small businesses would be able to do more for the environment if they didn’t have to drive for miles to reach their nearest branch."


 
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