As the owner of Prevail Accountancy, I'm proud to share how we’ve been helping SME clients earn more from their savings through our partnership with Allica Bank. I’m excited to share the amazing results our relationship manager, Agata, at Allica Bank, shared with me this week.
 
In total, our clients have deposited over £1.1M with Allica Bank, earning nearly £33k in interest over 12 months at a rate of 4.08%. This is money that can go straight back into their businesses for growth and development.
 
Key insights from the latest report: GBSS – 2024 Report
 
SMEs have £248 billion in cash on deposit, but £126 billion is sitting in current accounts, earning zero interest.
SMEs are missing out on over £9 billion in interest every year, which could be used to reinvest in their business.
 
In Manchester alone, around 17,500 SMEs are missing out on approximately £36M annually in interest.
 
It’s great to see how we’re helping our clients make the most of their cash savings. Looking forward to continuing to support more businesses this year.

I look forward to our fantastic upcoming event with Allica Bank and to many more success stories we can achieve together through our partnership.