Yorkshire Bank offers more support for SMEs

SMALL businesses are to be given more support by Yorkshire Bank after it launched an offer of free banking services to start-ups and companies that switch their accounts.

The bank, along with Clydesdale Bank, has also launched a new small business service which will create a 50-strong team in the Yorkshire region.

The banks’ new service will be available to companies with turnovers of £1m or borrowings under £250,000.

Start-ups will be offered 24 months of free banking from the pair, while switching companies will be offered 18 months.

Gary Lumby, director for small business at Clydesdale and Yorkshire Banks, said: “Small businesses are the lifeblood of our communities and economy. We see a real opportunity to offer a credible alternative; establishing local relationships to help small businesses flourish, with local knowledge and services that suit their needs.

“The evidence suggests that the small business market is underserved by the ‘big banks’. We see this as a great time to correct that and build on our already successful business banking approach.”