Problems With A Fledgling Business

I had been running my first business for almost a year; things seemed to be going well although my bank account looked decidedly unhealthy. I was chuffed that that my business had made a year without going down the pan. It had not been easy; I was working all hours of the day, waking up at four in the morning to do the paperwork, usually concerned with my business account and correspondence from the bank's business advisor.

Considering you have to beg and plead for the loan that the bank gives you there is no let up in the information they require about where their funds are and what you are using them for. Sadly I was beginning to think that a different business account with a different bank may have been a better idea. After all I had been wooed into this account by the introductory offers and had neglected the long term picture.

This is an easy mistake to make when there are so many choices of business account on the market. It made my head spin just trying to choose one. No wonder I had ended up simply looking at the offers and neglecting the small print, it is easy to do when you have a pile of pamphlets in front of you so large it blocks the sunlight.

I can hear what you are thinking; does this man have any business sense? Surely he would spend as much time as possible choosing the right account for his business? Well I challenge anyone to sit there and trudge through leaflet after leaflet of the same bank dialect and stay focused on the task at hand. It is an unenviable job at the best of times but when you are under pressure to find a bank account it is far too easy to take the best option after a light skim read of the details.

Overall though I do not think if I spent another week working my way through the epic pile of pamphlets on my coffee table I would have found a better offer for my business. To be fair to the bank although they were on my back a lot of the time I cannot blame them, it is their money after all and they are simply taking care of their investments.

The business advisor that came as part of the account package had been a real help in the first few months of operation. He understood the problems that fledgling businesses faced and supported many of the decisions I had made. A pity however was the account package had only provided this service free of charge for the first year and I was now worried that with the year nearly up, I would lose the expertise of my business advisor.

My fears though were unfounded as the business advisor soon made it clear to me that although I would have to pay for his services from now on; the amount was trivial, especially compared to using an advisor from the open market.

Overall I can say that the bank had been helpful at almost every step of my journey. Their insistence of sending reams of paper to my house was simply prudent financial practice. To be perfectly honest, it had taught me a great deal about how to run my own business along more logical and productive lines.

So the introductory offers were close to their expiration, a few percent here and there would make a slight difference to the account although I was sure it would be negligible. I had gotten to know both the business advisor and bank manager well here and felt they would support my business wholeheartedly.

I had chosen my account on a bit of a wing and a prayer, but it seemed it had paid off, even though, in future I would take more care when choosing an account.

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