In today’s fast-paced business world, it is essential for small businesses and SMEs to have access to efficient and reliable banking services. With the rise of digital banking platforms, entrepreneurs now have a wide range of options to choose from. These platforms offer a variety of features and benefits that can help small businesses manage their finances more effectively. In this article, we will explore 12 of the best digital banking platforms for small businesses in the UK.
1. Starling Bank
Starling Bank is a mobile-only bank that offers a range of services specifically designed for small businesses. With its user-friendly interface and advanced features such as real-time notifications and categorised spending, Starling Bank is a popular choice among entrepreneurs.
2. Tide
Tide is another digital banking platform that caters to the needs of small businesses. It offers a range of features such as invoicing, expense management, and integration with accounting software, making it a convenient option for business owners.
3. Revolut
Revolut is a digital banking platform that offers a range of services including business accounts, international payments, and expense management. With its competitive exchange rates and low fees, Revolut is a popular choice for businesses that operate globally.
4. Monzo
Monzo is a digital bank that offers a range of features such as budgeting tools, instant notifications, and the ability to set spending limits. It also offers a business account specifically designed for freelancers and small businesses.
5. Coconut
Coconut is a digital banking platform that caters to the needs of self-employed individuals and small businesses. It offers features such as tax management, invoicing, and expense tracking, making it a popular choice for freelancers and sole traders.
6. Cashplus
Cashplus is a digital banking platform that offers a range of services including business accounts, expense management, and credit facilities. It is a popular choice for small businesses that need access to credit without the strict requirements of traditional banks.
7. Countingup
Countingup is a digital banking platform that combines banking and accounting services in one app. It offers features such as invoicing, expense management, and tax calculations, making it a convenient option for small business owners.
8. ANNA Money
ANNA Money is a digital banking platform that offers a range of services including invoicing, expense management, and tax calculations. It also offers a virtual assistant that can help with financial tasks, making it a popular choice for busy entrepreneurs.
9. Cashflow
Cashflow is a digital banking platform that offers a range of services including business accounts, invoicing, and expense management. It also offers a cash flow forecasting tool that can help small businesses plan their finances more effectively.
10. Coconut
Coconut is a digital banking platform that offers a range of services including business accounts, invoicing, and expense management. It also offers a tax calculator that can help small businesses calculate their tax liabilities accurately.
11. Mettle
Mettle is a digital banking platform that offers a range of services including business accounts, invoicing, and expense management. It also offers a cash flow forecasting tool that can help small businesses plan their finances more effectively.
12. Cashplus
Cashplus is a digital banking platform that offers a range of services including business accounts, expense management, and credit facilities. It is a popular choice for small businesses that need access to credit without the strict requirements of traditional banks.
In conclusion, digital banking platforms offer a range of features and benefits that can help small businesses manage their finances more effectively. With their user-friendly interfaces and advanced features, these platforms are becoming increasingly popular among entrepreneurs. Whether you are a freelancer, sole trader, or small business owner, there is a digital banking platform that can cater to your specific needs. So, if you are considering switching to a digital banking platform, make sure to explore these 12 options and choose the one that best suits your business.