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.
The extent to which you have a good relationship with your bank or financier is, in my view, a true test of the real value of your business.
If you would like support to manage your banking relationship, contact the business advisory team at JPAbusiness on 02 6360 0360 for a confidential, initial discussion.
James Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.