Taking cash to the bank

 UK SMEs wasting time taking cash to bank

SMEs spend 26 hours a year travelling to make cash deposits, according to Barclays Business research, which claims the wasted time has led to the loss of 93m hours across all UK small businesses. Some 27% of SME owners regularly put off taking their earnings to banks and 7% admit keeping their cash in a safe rather than depositing it. On average, the research added, SMEs delay making payments into local branches by two weeks, stifling their cash flow as a result.

Source: City AM (27/09/2016)