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    5 tips for building a strong banking relationship [cheat sheet]

    Posted by James Price | JPAbusiness on 21-Feb-2018 02:00:00

    Many business owners consider banks a necessary evil, but I don’t subscribe to that view.

    Your banker or financier is a key partner in your business and, as with all successful partnerships, good communication is key.

    The following cheat sheet contains some of our top tips for communicating with your bank and setting yourself up for a healthy partnership.

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    Topics: Business Value, Banks and lending, Banking, business advice, Business advisor, business partners

    What your balance sheet should look like [infographic]

    Posted by James Price | JPAbusiness on 24-May-2017 05:13:00

    Many business owners, in small and large firms, don’t really focus on their balance sheet.

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    Topics: Advice, Banks and lending, Running your business, infographic, Banking

    5 top tips for partnering with your banker [infographic]

    Posted by James Price | JPAbusiness on 07-Sep-2016 01:00:00

    A banker is not just a simple supplier to your business – they are a partner in your business.

    In order to advance funds to your business, the bank must first assess a range of risks associated with your business. Based on that assessment, they then take a risk in advancing you dollars.

    Yes, they take security for that risk, which usually ranks before your equity in the business, but ultimately their success in lending money is inextricably linked to your success as a business.

    So treating them as anything other than a business partner is not doing the opportunity justice.

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    Topics: Advice, Partners, Running your business, Banking

    How to influence a bank’s lending appetite [cheat sheet]

    Posted by James Price | JPAbusiness on 16-Aug-2016 05:30:00

    A bank, financier or equity investor focuses on three S’s when considering their appetite for your business. They are:

    • Servicing
    • Security
    • Surety
    None of these factors are completely controllable, but they are strongly influenced by your actions as a business owner.

    Our cheat sheet can help you understand and manage these factors, to help create a strong and positive relationship with your bank or financier.

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    Topics: Advice, Banks and lending, Running your business, cheat sheet, Banking

     
    Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
     
     

     

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