News Summary

• Report from Monzo Business found spending on software is up 15% over the past year.
• More than half (56%) of SMEs said they were confident about their growth prospects over the next year.
• Financial admin was also revealed as another major headache, with UK SMBs currently spend on average around 53 minutes every working day on tasks such as processing invoices and expenses.
• Nearly half of businesses (49%) said financial admin takes too long, with 39% saying it actively holds their business back from growing.