Your business savings could be building free wealth right now
You've worked hard for every pound in your business, and right now you've probably got cash sitting in business accounts earning almost nothing.
I’m talking about your VAT and corporation tax savings, and your cash buffer.All just... sitting there at 1% or less.
Here's what that's costing you:
Let’s say you’ve got £100k sitting at 1% for 5 years – that’s £5k in compound interest.
But at 4% it’s £22k.
That's £17k of free money you're leaving on the table.
And you don't have time to waste - every year that money sits earning nothing is a year of wealth-building you'll never get back.
If you're in your 40s or 50s like most of my clients, you're 10-15 years from retirement – and hopefully being financially free!
Here's what to do this week:
Move your business savings into accounts that actually pay proper interest.
I personally use Akoni - it's an aggregation platform that lets you access multiple banks in one place with instant access and longer-term accounts.
And you only have to go through account opening hell once.
This isn't complicated. And it doesn’t take long to set up.
And you don’t need £100k to do this – starting with £10k is still worth it, and will build your muscle of saving money.
Then use that bonus money strategically:
Boost your pension at year-end, or
Build your cash buffer even stronger
And it makes money while you sleep.This isn't just about interest rates; it's about building wealth intentionally; every pound of profit your business makes is an opportunity.