Zempler Bank backs UK traders in partnership with National Market Traders Federation
Zempler Bank, the digital bank dedicated to making money simpler for UK businesses, is expanding its traders offering by partnering with the National Market Traders Federation (NMTF), the membership organisation for market, event, festival, fair and street traders, and mobile caterers across the UK.
The partnership comes at a time where small traders face mounting financial pressure. Recent research from Zempler Bank’s report ‘Feeling the Heat’ found that just under a quarter (24%) of small food and drink operators feel confident about growth, while nearly one in five are questioning their long-term viability and three quarters have had to raise prices in the past year.
As part of the partnership, NMTF members will be able to open a Zempler Bank Business account on a trader discounted package, including a 12-month free trial on Zempler’s Business Extra and Business Pro accounts, with up to 1% cashback on purchases, plus a £50 credit applied to their membership fee on renewal.
After the first year, members can choose from one of three Zempler Bank business banking tariffs designed for small business needs, with low fees and tools to support day-to-day cash flow management. Operators surveyed in Zempler’s report stated that automated shortfall alerts (cited by 59%) and integrated forecasting tools (45%) would make the biggest difference in managing their cash flow, both of which are built into Zempler’s offering.
The partnership responds to an uncertain economic environment: nearly two-thirds (62%) of businesses are exploring new revenue streams and 46% are investing in technology for real-time cash flow visibility, while more than half (55%) are actively seeking financial products better tailored to distinct trading patterns.
Nick Biggam, commercial director, Zempler Bank, said: “Traders and small food and drink operators are crucial to the UK economy, but they’re under real pressure right now. We know from our own research that seasonal revenue fluctuations and late payments are two of the key strains these businesses face, whilst also struggling with tightened access to funding. Partnering with the NMTF means we can put practical and tailored banking solutions directly into the hands of traders who need it most.”