Type of bank account used by small and medium enterprises in the UK in 2017

This statistic illustrates the main bank account type used by small and medium enterprises (SMEs) in the United Kingdom (UK) as of 2017. 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 (96 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 2017.

Type of bank account used by small and medium enterprises (SMEs) in the United Kingdom (UK) as of 2017

Share of businesses
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Source

Release date

May 2018

Region

United Kingdom

Survey time period

August 2017 to January 2018

Number of respondents

916*

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).

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Statistics on "Small and medium enterprises financing in the United Kingdom"

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