Small firms are being let down by the accelerating closure of local bank branches, a business group has warned.
The bank branch network has halved to just over 8,000 in the past 25 years and is set to halve again in the next decade, said the Federation of Small Businesses (FSB).
Banks are increasingly referring people to the Post Office, but in some cases even these have closed or moved, according to the organisation.
FSB chairman Mike Cherry said: “The rapid pace of bank branch closures across the UK presents some very real and tough challenges for small businesses.
“FSB members highly value the face-to-face interaction they receive in-branch, particularly when making complex financial transactions, with staff who often have a greater understanding of their business and the local economy.
“In addition, many of our members deal heavily in cash and cheques and need access to over-the-counter banking facilities on a regular basis.
“Small businesses are keen to embrace the opportunities of the digital economy.
“However, barriers towards digital inclusion, such as unreliable broadband connectivity and a lack of confidence in using digital services creates serious challenges.”