UK Small Businesses Spend About 10 Weeks a Year Financial Admin

According to a new survey by Starling Bank UK based small businesses spend about 15 hours a week or 10 weeks a year dealing with their finances; Starling surveyed 1,000 business owners and a third said their finances also negatively impacts their personal lives and 10 percent lose sleep; Starling Bank CEO and Founder Anne Boden tells AltFi, “What our findings unequivocally show is that micro-businesses are spending a huge amount of time on financial admin work.”; the results show how much opportunity there is for fintechs to help small businesses get a better handle on their finances using cutting edge technology. AltFi

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