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Small businesses lose out by not shopping around for interest

Smaller businesses are losing £3.3bn a year in unearned interest on savings, according to research by Standard Life Bank.


Its research reveals businesses in the small to medium size enterprises sector have an average of £33,000 on deposit at any one time.


But traditional banks and building societies offer interest rates of only 4.5 per cent. Businesses that actively seek the best interest rates will make significant financial gains.

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