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Businesses complacent on banking

Small and medium-sized businesses could be missing out on the best banking deals, according to a monthly survey run by the Institute for Enterprise and Innovation at The University of Nottingham.

The results from the latest UK Business Barometer survey, carried out in December, showed that more than half of the 129 respondents either never or only rarely shop around for savings on bank charges or services.

In its sister survey, the UK Business Adviser Barometer, 34 per cent of respondents said they are active in making comparisons of banks on behalf of their clients, while 42 per cent do very little or none of this.

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