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Saving for a rainy day

Small and medium-sized enterprises (SMEs) in the IT and communications sector are top of the table when it comes to saving money, with an average business savings balance of £843,000. Research by Hampshire Trust Bank shows that the ICT sector is also the only one to have increased its savings balances (by 5%) since the run up to the EU Referendum. Overall, the national average for business savings is £446,000, a 20% drop from last year’s figure of £556,000.

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