The working relationship you have with your bank or building society will be one of the most important you forge as a business. When that relationship works well, a bank can be much more than just a provider of business accounts or commercial mortgages – it can help you plan and get to where you want to be.
Choosing a banking partner is not just about securing the best interest rates – it’s about customer service and the understanding your bank has of your business that is the real key.
A bank that is conscious of your business’ needs will be vital when times are tough, and can grease the wheels of success when you need to get things moving – by providing a commercial mortgage, business loan or simply by extending your overdraft limit.
Business accounts are important too. A good bank account is essential, as this will be the frontline in your business’ finances. With cash flow so crucial, you’ll want a competitive overdraft facility and low charges to help you make the most of your money.
Surplus cash can be stored in business savings accounts and a good rate of interest is a must. Depending on how much access you need, your business can get anything from a longer term fixed rate bond, right down to an account that allows instant access.
Moneyfacts.co.uk is one of the few places where you can compare business accounts, business savings, commercial mortgages and loans - all in one place.