Business banking: a start-up guide

You’ve worked diligently at your business plan. You’ve researched your market, tested the views of potential customers. Your prototypes are ready. Your team is in place.

At some point in the journey of the start-up entrepreneur, you’ll need to select a bank. Now you might think that there’s little choice (and you wouldn’t be too wrong there), but there are still fundamentals to observe.

First, you’re the customer. So insist on a good deal. Ensure you’ve got a hotline to a smart decision-maker who will give you decisions quickly. Don’t be nobbled by fees, onerous conditions etc.

Equally, don’t expect the red-carpet treatment straight away. That’ll come later when you’re a successful entrepreneur and you’re a "premium" customer, or whatever fancy term they use to describe you. And you’ll have deserved it.

Until that day, here’s our advice on business banking for the successful start-up.

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