Abbey Business Banking: SMEs plan to reinvest profits

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Abbey Business Banking: SMEs plan to reinvest profits

Small and medium enterprises (SMEs) are planning to reinvest profits - new research by Abbey Business Banking has shown.

Some 57 per cent of SME chiefs will invest this year's profits into their business, compared with 48 per cent who will use profits for early retirement.

A further 30 per cent would invest elsewhere for retirement purposes, while 29 per cent would spend excess profits.

"Britain's bosses are an entrepreneurial lot with nearly three in five of them planning to put this year's profits to good use," said Ian Wilson, managing director of Abbey Business Banking.

He added: "Unlike other banks, Abbey helps business owners maximise their profits by offering free day-to-day banking."

A recent poll by Abbey found that 28 per cent of entrepreneurs believe their personal health has deteriorated due to work, with 40 per cent of bosses working in excess of the EU's time regulations.
ADNFCR-323-ID-18398950-ADNFCR

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