At Hampshire Trust Bank, we are focused on supporting UK SMEs. We believe that by better understanding our business customers, we are more able to support them in their efforts to thrive and grow.
We commission this UK SME Savings Tracker annually, to take a snapshot of the business savings landscape in order to help us understand more about our business customers, what they are saving for and why and whether there are any emerging savings trends, giving us the insight we need to help them achieve their goals.
Our research shows that in the run up to the EU Referendum, UK SMEs were building up their cash reserves.
According to the findings, the average business savings account balance stands at £556,000, a 104% increase on 2015, with 38% of businesses saying that they were increasing the amount of money in their businesses to build a cash buffer.
For more information, why not download your copy below.
Director of Savings