Welcome to the Business Finance Review. There are many facets to business finance whether you are a small business, a SME (small and medium enterprise) or a large multi-national. We however are concentrating on the smaller businesses in the UK. The purpose of the site is to provide some helpful background information through a series of articles, which we hope will prove useful.
The types of finance available to small businesses is not disimiliar to that available to the private individual. Banks will offer the typical banking services such as current accounts, credit cards, loans and mortgages. Unfortunately, the charges tend to be higher and the conditions tighter for business products over personal banking services. However, most banks offer a comprehensive range of services and have specialist departments and advisors in place to encourage you and your business to take up their products.
Internet banking is particularly useful for the small business, especially for people on the move. In the "old days" a small business man was forever in and out their the local branch of their bank, cashing cheques, paying in recieipts, arranging overdrafts and so on. With the event of internet banking and the accessibility of the internet, it is possible to conduct the financial affairs of the small business at any time of day or from anywhere. Gone are the days of wasting time in the banks, which would be better employed running the business.
Banks value business customers very highly and so are very competitive when comes to attracting new business. Startups companies are particularly sort after and banks will offer arrange very good deals to attract the new business as ince they have the custom they are highly likely to keep it. It is worthwhile to shop around and talk to several banks to find the best offers. Consider not only the rates for new business, but also how the current customers fair when compared to other banks. This will give you a good idea of the long term competitiveness of an existing bank. There are several internet comparison engines that can get you started on this process.
There are some regulatory bodies in place to protect you when conducting business with banks. Banks are regulated by the Financial Services Authority (FSA).
Find out the secrets of 0% credit cards and see how the banks make 0% balance transfers and 0% purchase offers work for them.
For lots of helpful independent information on personal loans including a look at things like Payment Holidays and how they affect your loan
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.
The articles on this site are for general information purposes only and should not be construed as advice under the Financial Services and Markets Act 2000. We strongly advise that you take appropriate professional and legal advice before entering into any binding contracts.