How to give your business savings a boost
Running a business means keeping a lot of plates spinning and there is often so much to do that when money comes in and you have a healthy account balance, the last thing you are looking at is how much more money could be making for you or your business.
But even in this low interest rate environment there is a lot more that you could make for your business simply by putting that money into better paying accounts - on, average, around 12.5 times what you are getting now.
Taking a good look at how your cash deposits are split across accounts - if indeed they are split at all - will help you to understand a number of things about your company's cash position.
1. Is your money earning you as much as it could be?
2. Is your money as protected as you want it to be?
3. Are you keeping up-to-date with changes to the interest rates and terms of your accounts?
If the answer to any one of these questions is no, then you should consider the best way to improve the way your cash savings are being dealt with, so you are not missing out on what is, essentially, free money.
In the current low interest rate environment, it is easy to think there is little point in moving your cash around because one account will be paying pretty much the same as another.
But when you are talking about higher cash sums, even a small increase in interest rates can make a big difference.
If you are interested in finding out more then you can download your free guide on how to Supersize your cash savings or speak to one of our Savings Experts on 0808 164 6466.
We guarantee that we will only advise you to proceed if we can beat your current rate of interest, after our fees.
If a business with £903,000 in cash accounts (the average amount held by businesses in our Concierge Cash Service), failed to move their money to the best paying accounts over five years, they could be losing out on an average of £752 a month in interest or a massive £45,150 over five years, assuming rates remain the same
What is included in this guide?
- Is your business missing out?
- How to avoid missing out
- How the Concierge Service makes your money work for you
- Who can we help?
- Protecting business cash
- The importance of staying active
- Best Buy tables are not all the same
- The Rate Cut Trap