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23 January 2024 - SME Finance - Oral evidence

Committee Treasury Committee
Inquiry SME Finance

Tuesday 23 January 2024

Start times: 10:00am (private) 10:15am (public)

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Are small businesses getting enough support from the public bodies set up to help them?  

In the third session of the Treasury Committee’s inquiry into access to financing for small and medium-sized businesses, bosses at the British Business Bank (BBB), Financial Ombudsman Service (FOS) and Business Banking Resolution Service (BBRS) will face questions from the Committee. 

Meeting details

At 10:15am: Oral evidence
Inquiry SME Finance
CEO at Business Banking Resolution Service
Chief Executive & Chief Ombudsman at Financial Ombudsman Service
At 11:15am: Oral evidence
Inquiry SME Finance
CEO at British Business Bank

The session will be split into two panels of roughly an hour each, beginning with questions put to the Chief Executive Officers of the FOS and BBRS. This will then be followed by a session with CEO of the British Business Bank, Louis Taylor.

Over the course of the inquiry, the Committee has heard about the challenges SMEs face when dealing with lenders – so it is likely members will want to press witnesses on the extent to which they are effectively supporting small businesses when they encounter problems accessing capital.

Members of the Committee are likely to examine whether the processes which have been set up to enable small businesses to raise and address grievances with their banks are working, and if enough is being done to ensure SMEs are aware of their options when it comes to alleged unfair treatment.

The cross-party group of MPs may also choose to raise the issue of whether some businesses are in danger of having no recourse for raising complaints following the planned closure of the BBRS.

Members are likely to ask how the publicly funded organisations are making a difference for SMEs seeking finance, and what other tools they may consider using to help small businesses.

In previous oral evidence sessions, MPs have questioned financing experts, industry bodies which represent SMEs and different types of lenders in order to gain a well-rounded view of the obstacles and potential solutions for small businesses trying to access financing.


The Wilson Room, Portcullis House

How to attend