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Finance
Mortgages, pensions, loans, shares, savings |
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Cash 'Still Central to SME Operations'
Despite the growing popularity of debit and credit cards among
consumers, many businesses claim that they still prefer to deal in cash.
The vast majority of businesses - 96 per cent - still accept cash
payments and 43 per cent claim that it is still their main payment
method, primarily because it is easier to manage than other methods.
In addition, an Alliance & Leicester Commercial Bank survey found that 45 per cent of small and medium-sized businesses think that the cost of processing cheques and credit card payments is too high and 62 per cent will not accept credit cards.
Russell Carter, head of cash marketing at Alliance & Leicester
Commercial Bank, said that cash was still clearly a central part of the day-to-day operations of SMEs in the UK.
"It is clear that, even in 2006, cash still offers significant
advantages for businesses looking for easy management of financial transactions," he commented.
Mr Carter added that businesses need to regularly review their
finances and investigate any charges levied by their bank for cash
handling to ensure they get the best deal.
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