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Guides & Tips

Business bank account checklist

Charges and services vary a great deal from bank to bank so it pays to do your homework and find out what suits you and your business.

Business Banking basics

In order to open a bank account, even a basic one, all banks and other financial institutions must go through a series of checks to try to minimise the effects of money laundering.

In a recent SmallBusiness.co.uk poll, 65 per cent of small business owners were shown to be dissatisfied with the service they were getting from their business bank, with answers ranging from ‘It’s pretty inadequate’ to ‘It’s terrible’. SmallBusiness.co.uk and banking consultancy Lochroe point to this list of key issues to consider when assessing your business bank.

Don't Miss

Loans scheme for start-ups falls flat

Last month the government launched a finance package to help struggling small businesses access bank loans, but SMEs say they aren’t seeing the benefits.

Your first business loan

If your business plan and financial forecasts are sound, you may be feeling brave enough to approach a bank for funding.

Is your current account as good as it should be?

In the UK, most people have a current account of some sort, and the reality is that most people don't spend a huge amount of time thinking about anything other than the balance in them. Usually, people stick with their current account provider for years and assuming mistakes aren't made, pay little attention to them beyond that.

Business Banking News

‘Banks are not supportive,’ say SMEs

Bank managers are among the least trusted group to approach when owner-managers are seeking financial advice, according to research from Close Invoice Finance. 

‘Banks are not supportive,’ say SMEs

Bank managers are among the least trusted group to approach when owner-managers are seeking financial advice, according to research from Close Invoice Finance. 

SMEs hit by stealth bank charges

A thaw on bank lending to businesses is being nullified by a raft of new stealth charges, claims Clifton Asset Management.

Business lending still too steep

Banks are imposing extra charges, increasing interest rates and demanding personal guarantees for lending to small businesses – and the government’s Enterprise Finance Guarantee (EFG) scheme has done little to help.

Bring on 2010, say SMEs

UK businesses expect market conditions to improve in the last quarter of what has been a desperate 2009, a new survey has found.

Darling turns heat up on banks

Alistair Darling will today urge banks to increase SME lending.

Steep fall in GDP scuppers Chancellor’s predictions

The economy fell at a much sharper rate than expected in the second quarter of 2009, according to the Office for National Statistics.

Inflation falls below two per cent

Inflation has fallen below the Bank of England’s target rate of two per cent for the first time since 2007.

‘Quantative easing must continue,’ say economists

Economists have criticised the Bank of England’s decision to stall its quantative easing programme.

SMEs 'seek funds from family'

The number of small and medium-sized enterprise (SME) owners who would consider borrowing money from friends or family has doubled in the past year, a new study suggests.

BCC: Firms face tough recovery

The British Chambers of Commerce (BCC) Quarterly Economic Survey claims that the worst of the recession has passed, but businesses still face tough conditions.

Events Calendar

City University & Knowledge Connect: Free money from the LDA for your business

29th June, City University, Ground Floor, Room AG07

Business Startup

28th November, Olympia, London

Protecting Your Business

6th September, Best Western Country Hotel, Caerphilly

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as 100 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.

What Investment

What Investment is the leading and longest-established investment magazine in the UK.

Local Guides

Regular Small Business newsletters
Access to all our experts in the Q & A forum
Post comments on articles

Barclays Business Start Up Account

Everything you need in one place from help with planning to getting more customers, to FREE seminars and a credit checking service to help you get paid quicker. Plus, up to 2 years FREE banking (conditions apply). Apply online

Finance for your Franchise

HSBC’s dedicated franchise team will help you develop your franchise business to its full potential and provide a bespoke finance package to meet your individual requirements. To find out how HSBC can help your franchise business, click here

Secure early payment for your unpaid invoices with Simply Business

Simply Business is the UK’s largest Invoice Finance advisor, providing free and impartial advice to businesses. Find out your cash flow options in minutes, you could have up to 90% of your invoices paid in 24 hours.

Best banks for business Resource Centre

Business banking services from Lloyds TSB

From business insurance to business loans Lloyds TSB have a range of business banking products and services to meet the needs of your business.

Free business account

Alliance & Leicester offers free business current accounts at a market-leading rate of interest.

Make a complaint about a bank

Guidance on how to make a complaint against a bank or other banking service provider from the Banking Code Standards Board.

Changing your bank account

Switching your business account could help you get a better deal. Here's a guide to changing business bank accounts from Business Link.

Compare business bank accounts

If you're looking for the best bank you can compare small business bank accounts at the Review Centre.

Business bank account finder

Use this business bank account finder from the BBA and MoneyFacts to get the best account for your business.

Start up your business with free banking for 2 years from Natwest

When you become a new business customer, Natwest give you 2 years free banking, if you have been in business for less than 12 months.

Business banking from HSBC

Business banking with HSBC, offers you an award winning online Business Internet Banking service, a comprehensive Business Telephone Banking service, and a full range of business products.

More Best banks for business Resources

Other Business Banking Resources

Polls

Video

Tips for Search Engine Optimisation - Monitor Your Status

Faith Evans, Head of Website Production at BT Business, explains how regularly checking your website's performance can help with your Google ranking.

An audience with Digby Jones and John Dovey

This short extract from 'An audience with Digby Jones and John Dovey' looks at the challenges, risks and opportunities for businesses in 2010.

Meeting menaces: The Waffler

More tips from John Cleese, who reveals how to stop a waffler in full flow.

Meeting menaces: The Interruptor

John Cleese reveals how to deal with serial interruptors without giving in or getting into a fight.

Blogs

Will Alan Sugar sweeten business prospects?

Marc Barber 10/06/2009

While any help singled out for small businesses should be welcomed, the appointment of Sir Alan Sugar as ‘Enterprise Tsar’ smacks of gimmicky desperation. (2 comments) Have your say »

Inflation is King

Penny Proffit 19/06/2008

A look at inflation and why Mervyn King has had to put pen to paper... Have your say »

Basic building block of any Internet marketing campaign

Guest Blogger 07/07/2008

For almost all sectors of commerce today, the Internet, or more specifically the World Wide Web, is now a key tool for business. In the field of marketing in particular it has become crucial. (1 comments) Have your say »

Q&A

Register or login to ask a question to our panel of experts...

Tax and VAT expert

Clive Lewis, ICAEW

9 posts

Latest questions answered

Q: Business bank account Q: Business bank account Q: Personal family loan Q: Why use business banking? Q: Bad banking practice Q: Acquiring a small business loan Q: Securing a business loan whilst managing debt

Prize Draw

IT Trends for SMEs in 2010

Smallbusiness.co.uk has teamed up with network support company Lifeline IT to ensure your business' IT systems are in the best shape for 2010. Enter our short survey and your company could win two hours of free IT consultancy. To take part click here

Weekly business banking advice

Free information on opening a bank account, taking payments from customers and getting bank loans. Find out more or sign up today.

Lloyds TSB Commercial Finance

Invoice finance enables a business to release cash against their business to business invoices without having to wait weeks or months for payment. It improves cash flow and saves time by eliminating internal invoice ledger management. Get an online quote now.