SME relationships with banks

December 20, 2012, 9:59 AM GMT+0

YouGov survey, commissioned by Aldermore, highlights what businesses really want from their bank

Our survey, commissioned by Aldermore, highlights the relationship between GB SME decision makers and their banks. The study, which interviewed 508 senior decision makers from SMEs, revealed the current business savings habits of small and medium enterprises throughout Britain, as well as highlighting their attitudes towards the financial services sector.

The poll reveals that businesses lack confidence in their banking relationships.

  • Almost four in ten (38%) businesses think that their business bank offers its best saving rates to new customers
  • 37% of businesses say they do not look at competitive products for fear of damaging the existing relationship with their bank
  • Over three-quarters (78%) of businesses with a surplus cash balance say their bank have never proactively suggested the best account for their money in the last year
  • Two-thirds (66%) of businesses with a surplus cash balance don't know or are not aware of a better business bank account for their money

These results were used to create a YouTube infographic which you can view below:

You can watch Simon Healy, Managing Director of Savings at Aldermore, comment on the research below:

Aldermore is a British bank that uses leading edge systems and digital capabilities to deliver services to its customers.