November 3rd, 2021.

Despite the need to keep careful control of their finances, over half of businesses (53 per cent) have never switched their business bank account. 

Given the range of benefits offered by banks to new business customers, this means that many SMEs may be missing out on potential savings and a range of business-friendly features. 

A new research partnership between the Current Account Switch Service and Small Business highlights the benefits of switching for small businesses and reveals the factors that would make them move their money.

The research also found that 14 per cent last switched over six years ago and 11 per cent between one and three years ago. Two per cent don’t remember when they last switched. It’s not that there are not new deals out there – but SMEs might not be looking for them.

Why should I switch?

There are plenty of reasons to switch your bank account, not least to deal with post Brexit life and recovery from Covid-19. Data from the Current Account Switch Service.....

For the full story at smallbusiness.co.uk CLICK HERE.