Britain's small firms prefer to turn to their peers for advice when it comes to choosing the right payment card for their business, according to new research from MasterCard Global Commercial Products.
Nearly half of company decision makers (49%) said that they would value information gathered from fellow businesspeople in the local area, MasterCard reports. This compares with 44% who would prefer to consult their bank manager and 39% who would turn to an independent financial adviser for guidance.
A third (33%) choose to keep it in the family by placing their faith in the views of family and friends.
Despite the continued growth of the internet and the emergence of so-called ‘new media,’ websites and blogs lag well behind, with 24% and 8% of respondents saying that they prefer these information sources, respectively.
Meanwhile, decision makers cited protection against fraud (62%) as the biggest benefit offered by a business payment card. This ranks ahead of factors including a flexible credit limit (38%) and the ability to vary credit limits from employee to employee (27%).