Caroline Lavelle explained that brokers must "really understand the business" they are advising, including understanding that the problem they are presenting might not be the underlying issue.
The letter, Knot’s final one as FSB chair, comes at a time of heightened financial market volatility and geopolitical risks.
Andrew McRae said the coming election was “vital for small firms north of the border, given the significant number of steps the next UK Government can take to boost business.”
The FCA responds to FSB concerns by investigating the impact of personal guarantees on small business lending, aiming to ensure fair access to growth opportunities within its regulatory remit.