Firms urged to keep good rapport with banks

Businesses must build up and maintain a good relationship with their bank manager during difficult economic conditions, an enterprise expert has said.

George Derbyshire, chief executive of the national enterprise network NFEA, urged firms to create "sound" operating plans for their organisations.

His advice comes after a report from R3 revealed that 17 per cent of business owners strongly believe banks have not been supportive in the three months to September.

The business recovery association also discovered that 44 per cent of respondents felt the opposite.

Commenting, Mr Derbyshire said: "There is no doubt that bad news grabs far more headlines than good news, and it is no surprise that we have heard lots of negative stories about the banks recently. This survey goes some way to redress the balance.

"The banks are rightly and understandably asking lots of questions these days and no-one should expect us to return to the days of easy credit. The secret of success is sound business plans, good presentation and a positive relationship with your bank manager."

Posted by Christopher Evans

Published on: November 26, 2010

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