Account rates dissatisfy business owners

Returns on business savings accounts are failing to satisfy business management software users, research shows.

The Fair Investment Company found that 99 per cent of companies are not seeing the returns they want on savings.

David Doulton, director of the company, commented: "The base rate is still at its historic low of 0.5 per cent, so it is inevitable that rates will be fairly low across the board, but rates for businesses are particularly bad."

For a business user, an instant access account stands pays out an average of 0.52 per cent, the research showed.

Three-year fixed deals, which typically offer greater returns, pay out around 1.05 per cent, the Fair Investment Company said.

The firm recently called on the government to consider merging ISAs with pensions in order to convince youngsters to save for their futures.

It identified that the prospect of paying into a pension at a young age is daunting for many.

Small Business Management Software from Atlantic Global OnDemand.

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