Just as financial institutions are all different, so too are business bankers. Whether your needs are simple (an everyday business account) or more complex (a business loan), you should feel confident that you have a dedicated business banker on your side, one who understands your business and your long-term business goals and objectives.
So with this in mind, what are the key attributes of a good business banker?
Time is money
A good business banker recognises that your time is precious. They should be available when and where you need them. If you don’t have access to their direct number or mobile, ask for it! It’s about being responsive and flexible in order to help you solve your financial challenges quickly and efficiently.
Your business banker must have the experience and expertise to help you manage risk and build your business. They will take the time to understand your business. They may not be an expert in your field but they will get to know you and the industry you operate within.
People often don’t look beyond the ‘friendly banker'. It is important that you and your banker can work together but they should also offer you superior service, valuable advice and guidance.
Supportive and reliable
When choosing a business banker it’s important to not only consider what services you will need now but also, what you might need in the future. Have you thought about how much support will you need as your business changes and grows?
A business banker should see your growing business as an opportunity to provide you with more useful services and solutions along the way. They should be helping your business thrive at every stage.
Banking arrangements are often long-term. A business banker should invest the time to develop and nurture your relationship. Open and honest communication really is key. It shouldn’t be left up to you to make a call - your business banker should initiate regular contact to build trust and forge an ongoing relationship.
One stop shop
It makes sense that your business banker services all your business and personal banking needs.
One of the most important factors to consider is whether or not your business banker has the authority and the discretion to make on-the-spot decisions. To save time and money, make sure you are dealing directly with the person who is making the decisions and not a go-between.
Local knowledge is a must
A good business banker is attuned to local market conditions and will have a good understanding of market forces at play in the local and wider-economy.
From helping you borrow capital to planning for the future, a local business banker is an invaluable partner to your business – creating a relationship that is mutually beneficial is so important.
Bank of us is open for 'business'
Our business banking team is here to help you and your business succeed—take advantage of their local knowledge and expertise. You can contact our Business Banking Manager, Greg Martin on 0455 093 421.