Sunday, 24 June 2018

Information and commentary for the small business banking industry

Launching a small business: The bankers role

18 Jul

When someone’s thinking of starting their own business, one of the first places they’re going to go is their bank. This will, of course, be to find out if they can obtain funding to get their business off the ground, but there’s so much more you can offer them than just a loan. You’ve got an opportunity to establish a good working relationship that can be mutually beneficial, and since the new business is forefront in their mind, give them some tips on how to make their business launch a successful one.

A good, clear business plan is essential for starting a new business. Not only will you, as their lender, need to see it, but it lays out their goals and objectives and crystallizes their vision. A good business plan is one that’s constantly referred to, from the launch phase to business growth.

As this post from suggests, new businesses will need access to other banking services besides finance too such as the following risk protection products:

  • General liability insurance
  • Property insurance
  • Business vehicle insurance
  • Workers Compensation Insurance

Read the full article at:

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