Small firms need a champion

It's high time someone stood up for smaller businesses when facing larger firms, says David Prosser.

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The little guy must still fight his own corner
(Image credit: Peshkova)

It has taken a decade, but small and medium-sized enterprises (SME) caught up in a scam involving staff at the Reading branch of Halifax Bank of Scotland (HBOS) have finally got some justice. But while fraudsters including two former HBOS bankers were last week sent to prison for their role in the scandal, which saw struggling SMEs stripped of their assets, the businesses affected are still waiting to hear what compensation HBOS owner Lloyds Banking Group thinks they should receive.

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.