We all know that Britain’s economy is in need of a boost, and the optimistic among us expect a renaissance at some point in the not-too-distant future! Amid this tense anticipation, more and more alternative funding options, and attractive business savings account deals are emerging – so now could be a good time for businesses to “shop around” for advantageous deals.
Partly as a means of encouraging a resurgence in business activity in the UK; and partly in the hope of capitalising on the future success of UK businesses, Britain’s high street banks and building societies are vigorously promoting their business savings accounts. Business savings accounts are in fact expected to grow by about 25% over the next five years.
In addition you may wish to consider the loan services of reputable organisations other than banks, such as Funding Circle. Since its foundation in 2010, Funding Circle has loaned more than £28million to 670 British businesses. Funding Circle has recently received a £10million boost, as it is now being backed by Index Ventures and Union Square Ventures.