Local shops have welcomed the announcement from the Competition Markets Authority to conduct a full market investigation into lending to the Small and Medium-sized Enterprises (SME) market.  The investigation will look specifically at lending to SMEs and core products such as business current accounts.

ACS Chief Executive James Lowman said: “We welcome the CMA decision to investigate SME lending. Access to finance and fair bank charges are key to ensuring that local shops can grow and create more jobs in their communities.

Shadow Small Business Minister Toby Perkins has called for more to be done to reform the rates system as part of a discussion on the future of the high street at Labour Party Conference.

During the fringe event hosted by ACS and the British Independent Retailers Association, Mr Perkins recognised the need to bring down business rates bills on high streets across the country and also called for a review of property tax to help businesses.