New website makes small business banking a whole lot easier
Finding the right small business bank account for you is always tricky. Often anecdotal evidence is the best way to find a provider that will give you the service and support you deserve.
This week, the Business Banking Insight website went live, created to give small businesses the opportunity to make better decisions with their banking. The initiative is supported by the Federation of Small Businesses and the British Chamber of Commerce, and will help small businesses to both share their experiences - positive or negative - and find out more about the different products offered.
The project is backed by the economic secretary to the Treasury Andrea Leadsom, who said at the launch that it could act as a "wake up call for banks themselves to start to improve services and target better products that small businesses want to see".
The Business Banking Insight scheme is an independent study, carried out by ICM, to reflect the experiences of small business online. In the first batch of surveys, 5,000 micro, small and medium businesses were polled, with more survey data to be uploaded every six months. David Perry, associate director at ICM, added that "It represents a powerful tool for small and medium size businesses when choosing a bank".
We'd love to hear your personal experience - good or bad - with your small business' bank. Please let us know in the comments or on our social media channels.