Fifty-nine per cent of small and medium-sized businesses in London are confident about growth over the following 12 months, according to regional figures from Monzo Business’s first Money Moves Report.
That puts London fourth among the regions Monzo named, behind the South East at 68%, Scotland at 65% and the East Midlands at 60%. London is slightly above the UK figure of 56%.
Monzo published the national report on 23 September 2026. It released the regional breakdown in the week of 26 October 2026, sharing it at first with broadcast media, and sent it to London Business Daily on 27 October 2026.
Financial admin
The regional figures also show how many firms find running their business finances stressful. In London, 26% of small businesses cite administering the business finances as a source of stress. That compares with 48% in Yorkshire and the Humber, the highest of the regions Monzo named, and 21% in Scotland.
Across the UK, small businesses spend an average of 53 minutes every working day on financial administration, such as processing invoices and expenses, the report found. Nearly half (49%) say it takes too long and 39% say it holds their business back from growing. Of those, 21% say it means missing chances to invest in technology, equipment or premises, 20% pursuing new markets and 18% hiring staff.
Hiring and costs
Nationally, 62% of firms plan or hope to grow their headcount over the coming year. Rising costs are the most named barrier to growth (46%), followed by economic uncertainty (33%) and the tax burden (26%).
Monzo’s own customer data shows business spending on software up 15% on the previous year and spending on bills up 12%, with transport flat. Just 24% of firms agree their bank actively helps them run their business, and 55% say they often use other tools because their bank does not offer everything they need.
Jordan Shwide, General Manager at Monzo Business, said: “Small businesses are confident about the year ahead and thinking about how they can grow. However, running a business still comes with far too much financial admin, and our research shows that this isn’t simply an inconvenience, it can take time away from growth.”
How the survey was done
Strand Partners surveyed 1,000 owners and senior decision makers at UK businesses with fewer than 250 staff between 21 and 23 July 2026, weighted to be representative by business size, sector and region. Monzo did not say how many of the respondents were based in London. More on small business finance is in our finance section, and the latest count of new firms is in our report on London business births.