1. Find out the structure within which the bank operates.

2. Get to know your bank(s) and be sure they get to know you.

3. Enquire about new or improved services which may be available.

4. Discuss changes and developments in your business with your bank.

5. Discuss your business plans with the bank.

6. Show periodic statements of results to the bank.

7. Keep your bankers informed in advance.

8. Keep your promises. Don't make promises to the bank unless you are confident that you can meet them.

9. Consider using two banks. Weigh up the pros and cons of using more than one bank.

10. View banks as organisations which want to do business with you. See banks as institutions seeking business and wanting you as a customer.

Dos and don'ts for using your bank to the best advantage

Do:

See the bank as providing a package of services.

Work at creating a relationship with your bankers which will enable you to take full advantage of all the services available.

Keep yourself informed about developments in the banking sector as a whole.

Show them your business as a complete entity, warts and all.

Take them into your confidence and be completely frank with them, always as far in advance as possible.

Don't:

See banks only as a source of overdrafts - explore the whole range of services available.

Overlook the possibility of having your private account in another bank to give you a 'foot in a second camp'.

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Information supplied by Business Insight
Central Library, Chamberlain Square, Birmingham. B3 3HQ
Tel: 0121 303 4531 Email: business.library@birmingham.gov.uk
www. birmingham.gov.uk/businessinsight
www.bestforbusiness.com
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