Defence SMEs need banking services that work

The UK's most innovative businesses often start small.Before they can develop new technologies, win contracts or expand into new markets, they need access to banking services to help them operate, invest and grow.Access to financial services can be easy to take for granted. When those services work well they're almost invisible. However, when access becomes difficult or delayed, the effects can extend far beyond a single business.Small-to-medium sized enterprises (SMEs) operating in or providing services to the defence sector play an important role in innovation and growth.But these businesses do more than contribute to economic growth. Many are helping to develop the technologies, expertise and capabilities that support the UK's national resilience and security.Banking services are part of that story. They help businesses secure contracts, invest in new opportunities and grow. They are one of the key links between innovation and capability, and between economic growth and national resilience.That's why we wanted to understand whether defence SMEs were able to access banking services efficiently and consistently.The challenge for defence SMEs is friction and delay, not exclusionThe

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