Small businesses in Yorkshire lose £2.8bn annually to international banking fees and 26% avoid new markets due to high costs.
SMBs in Yorkshire lose £2.8bn annually to hidden international banking fees, and 26% are deterred from entering new markets due to high banking costs. 75% of SMBs in the region are prevented from expanding further due to complex international payments. The issue, according to Wise research, is exacerbated by weak legislation which could be improved without costing taxpayers.
June 26, 2024
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