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Small businesses struggling to make repayments
Reported on Thu, 03 Aug 2006
Small and medium-sized enterprises (SMEs) are struggling to make credit card repayments, according to new figures.
Barclays bank experienced profit increases of 37 per cent in the first half of this year, but noted an increase in the level of consumer debt.
The credit card operation of the bank fell by 14 per cent to £297 million, as consumers with debt problems struggle to repay credit.
It is not just traditional customers who are struggling to make repayments, with the bank noting a 30 per cent rise in charges on loans and advance across all areas of its business.
The bank has noted an increase in the level of repayment problems faced by small and medium-sized businesses, including self-employed tradesmen, who rely on the bank's business banking facility.
SMEs who find they are struggling to make repayments against credit cards could consider a business loan.
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