Small & medium size enterprises develop of new jobs & innovation (as has been demonstrated by decades of research), so the news that UK-based banks are moving away from loans to SMEs (the proportion of lending to SMEs has halved in a decade) & where it continues is increasingly going to property-focussed firms, is yet more concerning news as regards the UK's ability to reinvigorate its economy.

But banks prefer the *easier* job of lending to big firms, of course

#banking #business
h/t FT