Whether you’re reading this as a small business owner or a habitual small business customer, the value you are adding to our Saffron Walden economy cannot be understated. 

Supporting the many independent small businesses in Saffron Walden is essential for economic growth, and it benefits everyone. 

Whether you browse in Angela Reed, get your suits from Coles, seek tax advice from Bentens, have lunch in Cafe Coucou or a takeaway flat white from Waffle+Coffee, you are helping circulate money within the Saffron Walden community, growing vibrant businesses and boosting local jobs too. 

Essex has a flourishing and innovative small business sector. Out of c.80,000 businesses, 90 per cent are in the ‘micro’ category, employing up to nine people. 

Supporting local is a no-brainer when you consider the significant contribution that UK SMEs (small and medium enterprises) make to our economy – generating around half of the turnover in the UK private sector and employing a crucial 16.7 million people. 

A fair financial playing field 

The importance of building relationships is highlighted in our upcoming small business banking report, which looks at the impact of bank closures and the declining personal touch for small business owners. 

From our research of more than 500 business decision makers, 62 per cent prefer discussing financial issues in person, half feel misunderstood by big banks, and three in five SMEs believe that big banks prioritise larger businesses. 

Small businesses are vital, offering us those personal relationships that we want and need in this modern digital world.

Sadly, for these businesses they do not get the same service with many banks offering a limited range of business accounts and having closed their doors in towns across our region, and the country. 

These businesses are therefore missing out on financial support and a range of accounts tailored to their needs, for example offering accounts set up to help fund business growth, or the ability to deposit cash and cheques. 

It’s precisely for these reasons that we want to champion the voice of the small business owner, and ensure they have all the financial tools, advice and best-in-class service that they deserve. 

Supporting local, independent businesses 

Whether it is your hairdresser, your mechanic, or the friendly folk at your local shop or restaurant, these faces all illustrate the heartbeat of our community.

These SMEs are more than just businesses; they are the lifeblood of our local economy. 

Get behind your local businesses by signing up to the many brilliant local schemes such as the Saffron Walden Initiative and Support Saffron Walden. They are instrumental in helping our town thrive. 

If you are an SME owner, or know one, please keep an eye out for our upcoming financial fair play SME report to champion businesses.

In the meantime, if you have a local business and value personal service on your business' savings needs, you can contact Russell at Saffron Building Society for a friendly chat on Russell.Smith@saffronbs.co.uk or call him on 01799 582883.