9th Feb 2024

Unlocking the SME savings opportunity

Allica Bank’s research highlights the state of the saving market for SMEs and the need for action on business account savings rates.
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Do your clients have savings or surplus cash sitting in their bank accounts? 

As an accountant, it’s important to look for practical ways of supporting your clients. With the change in interest rates, one way of adding value to your clients’ business finances is to discuss how their money could be working harder.

Allica Bank’s report shares how many UK SMEs are missing out earning interest on their cash reserves by keeping money in accounts with low rates.

Allica’s research uncovers:

  • SMEs have £150 billion sitting in accounts with zero interest.
  • The big banks offer SMEs a savings rate that is up to 2% lower than the rate they offer larger firms.

Complete the form on the right to access the full research.

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Allica Bank report - The Great British Savings Squeeze

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