Monday, November 12, 2007

Q & A: How Do I Find A Suitable Bank For My Small Business?

I would take this stepped approach to finding a small business bank in your area, and many of the steps are similar to finding other suppliers: Find out the facts - i.e. account charges, loan charges, banking hours, online banking and other benefits, like free advice, software, etc.Talk to the person who would be in charge of your account, meet with them.Talk to other small businesses about the bank and the bank manager, go to networking events in your local area.Make a Pro's & Con's list - then make your decision.You will notice that banks don't like to be called suppliers, or service providers, but that is exactly what they are, nothing more and nothing less.... This is probably the last time for a while that you hold all the cards, so it's better to find out what your bank is like before you really need them.For me business is between people, I move bank with my bank manager when he leaves, I'm on bank number three with him right now and that always served me well in the past, it is also a compliment to my bank manager, and he knows it.Better the devil you know......!

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[Source: THE SMALL BUSINESS BLOG]