Online lending to small businesses has doubled in the past two years, according to research by Lloyds Banking Group.
The Group’s new research on SMEs online financial activities showed that there has been a 35 per cent increase in “digitally active business banking customers” during the same period.
Around 55 per cent of small companies reported managing their accounts online in May 2015 – an increase of 69 per cent on the previous year’s figures.
This online banking revolution amongst small businesses has been matched by a growing interest in online accounting solutions. At JW Hinks we work with a variety of different online accounting software products including Sage, Xero and Quickbooks.