Speaking on this issue Alistair Carmichael MP said:
"These figures show just how hard the recession is hitting Scotland’s small business sector.
"Labour has effectively nationalised two of Scotland’s largest banks, but they have done little or nothing to get them lending again. This has left businesses struggling without the credit they need.
"Gordon Brown and Alistair Darling should be standing up to the bankers who did so much to cause the current recession. But instead they are letting them get away with massive bonuses while they leave Scotland’s small business sector high and dry."
There have been affects in and around West Lothian of how hard businesses have found it to secure capital from the lenders to keep afloat. There are more empty retail and production premises around now than in the lead up to last Christmas.
Speaking to some of the local retailers in Bathgate they have said that yes the turnover is affected as people are less willing to part with their money. But they are also finding it harder to get access to money from the bank to help either tide them over tough times or to expand stock levels or opportunities.
The two main banks that they use are the Scottish banks RBS and HBoS which are both owned by the people. The Chancellor has said the banks need to start acting like banks again, that means lending money to business to help aid the recovery. I know that Vince Cable is lashing out at the bingo hall banking practices that led to this mess, but Vince knows that there has to be some level of risk in lending money to business to ease our economy out of recession. The banks are not yet doing so, and so it is that new businesses are not able to get going to replace the ones that sadly have gone by the wayside.