Firms put growth plans on hold as overdrafts are cut

ONE in ten businesses in the West Midlands have had their overdraft cut in the last 12 months a new survey has revealed.

Of the local firms that had their overdraft cut, a fifth claimed that the reduction has had a negative impact on operations, while a 20% revealed that the cuts have stifled their plans for growth.
The figures come from the latest Close Brothers Business Barometer, a survey that canvasses the opinion of SME owners from a variety of sectors across the UK on a range of economic and financial issu... For the full story register now for free or login below...