Labour Party News

AM asks Wrexham businesses to “spill the beans on banks”

Wrexham’s Assembly Member, Lesley Griffiths, is asking small and medium sized businesses in Wrexham to take part in a survey she is conducting locally, to establish the extent of problems they are encountering with banking services during the current economic downturn.

The AM will be distributing questionnaires in coming days to a sizeable number of local companies in Wrexham, to gauge the extent of any problems they are facing and also to assess what banks should be doing to improve the service they are currently offering their business customers.

Commenting on her survey, Lesley Griffiths AM said:

“There has been much talk in recent weeks of the difficulties faced by companies in the current economic climate regarding the treatment they are currently receiving from banks. For example, there is anecdotal evidence that some banks taking a hardline with their business customers on things like overdraft facilities and loans being refused.

“If this is true locally, then that is potentially damaging to Wrexham’s economy and local jobs and this is my principle concern. This survey will help me get a ‘picture’ of the extent of such problems and also to see how local businesses can be helped through the current difficulties with the economy.

“Some local companies may be facing difficulties on issues such as lending. Some small businesses may be getting worse borrowing terms than they did before the credit crunch. I want to get to the bottom of this to see how much this is damaging the local economy and the only way to do this is to conduct this survey.

“I would appeal to Wrexham companies who receive an invitation from me to take part in the survey, to complete the short questionnaire and send it back to my office. The answers they provide will be treated in the utmost confidence.

“The findings from this survey could prove very useful in making sure banks change their attitude and become more sympathetic and responsive to the predicament currently faced by local firms. I believe it is essential to Wrexham’s economy that local companies get the best service possible. Hopefully, through this survey, I can help local businesses achieve this.”

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