Alliance & Leicester Business Banking: SME bonuses high

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Alliance & Leicester Business Banking: SME bonuses high

Large corporations are not the only employers that pay bonuses to their workers, according to new research from Alliance & Leicester.

A survey of small and medium-sized enterprises (SMEs) by the bank reveals that 12 per cent of the 4.47 million smaller firms in the UK anticipate that they will give out bonuses this year.

SMEs in Scotland are those most likely to give incentives, with 20 per cent saying they plan to do so, the Alliance & Leicester study reveals, while firms in the south (excluding London) are the least likely.

Steve Jennings, director of Business Banking at Alliance & Leicester Commercial Bank, commented: "This is great news for small firms and their employees and suggests many have enjoyed a profitable 2007.

"However with the outlook for 2008 less certain, business owners cannot afford to become complacent, they need to ensure costs are reviewed on a regular basis."

Alliance & Leicester has suggested that SMEs could save money by switching banking providers.
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