On the eve of Small Business Saturday UK, a leading banking technology specialist has warned that having access to financial services is more vital than ever to the success of SMEs.
“Access to financial services is essential to sustain small businesses and help them thrive,” said Mark Aldred, banking specialist at banking technology company Auriga. “This is especially true in rural and small communities where ATM and branch closures have hit hard, and there isn’t the communications infrastructure to support mobile and internet banking. If we want small businesses to thrive we have to give them the support to do so, we can’t leave them out of the debate.”
Aldred warned that small businesses need easy access to advice and support, as well as somewhere to deposit cash takings and withdraw money for the till: “For small businesses who rely on cash payments, a nearby ATM for customers is essential,” he added. “Banks are under pressure to make their branch and ATM networks cost efficient, but technology can ease the burden. Modern devices can carry out many business banking functions, from 24/7 deposits to accessing advice over video, whether they are in a branch or an ATM on the high street.”
Small Business Saturday UK is not-for-profit grassroots campaign which exists to support and promote small business. Held on the first Saturday in December, it encourages businesses to promote themselves and work with other small businesses. The campaign began in the UK in 2013 after success in the US.