The expression “What goes around comes around” applies to banks, but in a positive way, especially when they support the small businesses in their communities by increasing access to capital. OPIC can testify to such a phenomenon in the West Bank, which witnessed an economic turn-around at many levels following the US development-finance institution’s loan guaranty to a small-business-lending facility Middle East Investment Initiative.
There are an estimated 4.5 million SMEs in the UK – accounting for 99.9% of private sector business. By anyone’s standards, that’s a significant potential market. But, providing excellent service to SME customers is an opportunity too often overlooked by the major banks
It’s easy to see why the idea gained so much popular traction. Last year, Mark Carney said that, when it comes to financial institutions, “the more people see, the less they like”, and it’s not altogether difficult to see why people feel this way.