As a bank focused on supporting UK SMEs, we commissioned our annual UK SME Savings Tracker survey to take a snapshot of the business savings landscape.
This research helps us to understand more about savings trends on a national, regional and sector level and provides us with insight on how we might better be able to assist our SME customers.
Last year our survey showed that SMEs were building up business savings in the run up to the EU Referendum. In 2017, the savings landscape has shifted.
While we are continuing to see growth across our business savings portfolio, according to the findings, SMEs are saving 20% less than they were a year ago, with the average balance now standing at £446,000.