End of Year

I don't know where he year has gone and note that I have failed miserably to update my blog - despite being told that regular updates are essential.

Well the IOM has so far survived the worst of the recession although 2010 will be a challenging year on the back of changes to to the Revenue Sharing Agreement.

SME's on the island continue to have mixed fortunes with some continuing to do well and actually grow.

Whilst the contacts I have represent a small cross-section the availability of credit remains a major worry and threat.

Despite protestations from the Banking Industry the perception and reality is that there is now very little flexibility being shown by the Managers of small businesses. The Managers seem transfixed by process and uncertain about what they will get support for. Decision making is now taking even longer and is in danger of paralysing some SME's who otherwise have good businesses.

What is the answer better training and clearer lines of sight from business through to the real decision makers - cedit scoring has a role but is it really able to help decision makers when we are in unprecedented times.

How do you Credit Score an open and two-way relationship? - in simple terms you cannot. The community needs community bankers who know there customers, know the economy and know how their clients' businesses fit in to the economic cycle.