Small firms get raw credit deal

Tim Wallace
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SMALL businesses get a bad deal from the banking industry because it is too hard to set up new lenders, the Office of Fair Trading said yesterday.

The agency said the lack of competition in the market is combined with a lack of information on alternative sources of funding, together damaging business customers.

The OFT is handing over its authority to the new Competition and Markets Authority, giving a last update on the banking market.