Edinburgh’s SMEs: The Silent Victims of Banking Indifference
Edinburgh’s bustling streets and historic skyline are a testament to its vibrant economy, largely driven by small and medium-sized enterprises (SMEs). Yet, beneath this facade of prosperity, a silent financial drain is occurring. SMEs in Edinburgh are losing a staggering £38.5 million annually in potential interest income due to the low rates offered by the ‘big six’ high street banks. This revelation, brought to light by Allica Bank’s recent research, underscores a significant disparity in the financial industry that could be costing the Scottish economy dearly. The Interest Rate Disparity Edinburgh’s SMEs, the backbone of the local economy, are facing…
