Infographic: How the self-employed can drive banking revenue in the UK

Mar 4

14 million Brits are self-employed or own a business with less than 5 employees.

Many of these professionals are hiding in consumer banking accounts.

Self-employed/Sole traders

58% use consumer banking accounts exclusively for their business transactions

Micro-enterprises

32% use consumer banking accounts exclusively for their business transactions

There’s a significant number of high-earning enterprises in consumer banking that could be migrated to business products and/or accounts.

9% are making £75,000+

3% are making more than £100,000

The cross-sell opportunity is lucrative

Based on account fees alone, banks could drive millions in top-line revenue growth.

Header image created using Creative Common assets from Pablo Stanley.

The Sensibill Team