Survey says 9 per cent of retailers would go bust
If the UK became a cashless society 9 per cent of retailers would go bust, Alliance & Leicester Commercial Bank has warned.

A survey for the bank by YouGov found that more than 49,000 small and medium-sized companies in the retail sector would go out of business if customers stopped using cash.

About 93,000 (17 per cent) retail SMEs would have to make 'significant changes' to their business if cash became obsolete, while 5 per cent of respondents said it would stunt the growth of their business.

Alliance & Leicester Commercial Bank head of cash marketing Russell Carter said: 'The results of our survey highlight the important role the humble coin and note still plays for many businesses.'

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