Type of bank account used by small and medium enterprises in the UK in 2019

Published by Statista Research Department, Oct 11, 2023
This statistic illustrates the main bank account type used by small and medium enterprises (SMEs) in the United Kingdom (UK) as of 2019. It can be seen that two percent of SMEs used a personal current account as the main business bank account at that time. The majority (95 percent) of small and medium enterprises in the United Kingdom (UK) stated that they used a current account in the name of the business as of 2019.

Type of bank account used by small and medium enterprises (SMEs) in the United Kingdom (UK) as of 2019

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Source

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Release date

June 2020

Region

United Kingdom

Survey time period

July 2019 to February 2020

Number of respondents

8,406 respondents

Method of interview

Computer-assisted telephone interviews (CATI)

Supplementary notes

* Weighted basis.
Original survey question is as follows: 'Is the main bank or building society account you use for business purposes a business or current account?'

Survey was conducted among small and medium businesses with employees. Three categories were distinguished, based on employees numbers: micro businesses (1 to 9 employees), small businesses (10 to 49 employees) and medium businesses (50 to 250 employees).

Figures do not add up to one hundred percent.

This statistic using original data from the Government Digital Service and includes copyright material licensed under © Crown, the Open Government License v3.0

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