Nearly a third of SMBs (small or medium businesses) in Yorkshire want to enter new markets in 2024 - but are being put off due to the high cost of international banking services.
SMBs across the UK are losing nearly £3bn each year to hidden banking fees. Last year, UK SMBs lost £2.8bn to hidden international banking fees according to research by Wise, the international money app - and the problem is being made worse by weak legislation that could be fixed without costing taxpayers a penny.
While much attention is paid to the barriers facing SMBs looking to expand abroad, relatively little is given to that posed by international payments, yet it’s a barrier created by the expensive, complicated and slow services that currently dominate the market. The situation is made worse by poor regulation. Time-strapped SMBs are unable to easily compare the market.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Donegal Rally 2024: All you need to know about the 2024 eventWith top driver, tricky stages and stunning scenery, BBC Sport NI takes a look at what makes the Donegal International Rally special.
Read more »
Guardiola has a major Man City gripe no-one is solvingManchester City have 14 players at Euro 2024 ahead of a packed 2024-25 domestic season
Read more »
Euro 2024: England fan bailed following disorder ahead of Euro 2024 opener against SerbiaAn England football fan has been bailed by a court following trouble at the Euro tournament in Germany.
Read more »
Euro 2024: England fan bailed following disorder ahead of Euro 2024 opener against SerbiaAn England football fan has been bailed by a court following trouble at the Euro tournament in Germany.
Read more »
Reaction to England's Euro 2024 squad & Wales draw with Gibraltar, plus Euro 2024 build-upReaction to England's Euro 2024 squad announcement and Wales' draw with Gibraltar, plus build-up to England and Scotland's final warm-up matches, and all the latest football news and gossip.
Read more »
Leeds bakery named one of the UK's bestLa Liste's Pastry Awards 2024 has some great Yorkshire inclusions
Read more »