UK Small Business Banking market report
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Providing the most comprehensive and up-to-date information and analysis of the Small Business Banking market, and the behaviours, preferences and habits of the consumer.
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What are the key challenges facing the industry and how fast are its rates of growth? Who is the consumer and what do they want? Where are the opportunities, where are the risks and what lies ahead?
Products covered in this report
There is no single definition of a small firm, mainly because of the wide diversity of businesses. However, the Department for Business Innovation & Skills (BIS), which was replaced by the Department for Business, Energy & Industrial Strategy in July 2016, used the following definitions:
- Microbusiness: 0-9 employees
- Small business: 10-49 employees (can include microbusinesses: 0-49 employees)
- Medium-sized business: 50-249 employees
- Large business: 250 employees or more.
British Bankers’ Association (BBA) data defines a small business as having an annual debit turnover of up to £1 million/£2 million (note: different banks use different turnover criteria). For the purposes of the fieldwork conducted for this Report, Mintel defines small businesses as those employing 100 people or fewer
Expert analysis from a specialist in the field
Written by Richard Shepherd, a leading analyst in the Finance sector, his extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The small business banking market is taking steps to address the concerns raised by the CMA by increasing competition and differentiation, particularly through the introduction of innovative and useful digital tools. However, there is a long way to go. Small business owners continue to consider all banks more or less the same and show a bias towards large high street banks.
Senior Financial Services Analyst
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* This is a sample representation of the report layout and does not reflect the research included in this report.
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