(Guest Post by Nicky Taylor)
One of the major issues for any successful business is good financial management. You need to be sure that your income is safe, you have access to what you need when you need it and your banking facilities work for your business style. A good bank will offer all the services, tools and support to set up a tailored financial system for and will make prove invaluable to your business, what ever it may be.
Having an account manager who knows about your business is an option at most banks. Building a personal relationship with the people who manage your money makes good sense, and reduces time in searching your files and going through the security processes each time you call. An account manager can advise on the best accounts, credit or debit facilities and ways to manage regular payments like tax, ACC and compliance costs.
Corporate finance services
Finance executives can help you to make the smartest choices around your business banking. If you need access to EFTPOS and credit facilities, they will set these services up for you. They can advise on your international transactions and on the best investment opportunities for capital growth.
Loans and borrowing
Corporate finance covers your borrowing needs, whether you are upgrading your information technology, refurnishing the office or opening a new branch, either in New Zealand or overseas. Corporate finance bankers can organise the loans you need, and arrange repayments that you can afford.
Global Markets are an ever-changing arena. Your bank will have up to the minute market knowledge, exchange rate and securities information to manage risk in the foreign exchange. Risk calculators and online tools can help to keep your offshore business running smoothly and maximise value for shareholders.
Setting up and starting out
While banks are not business advisers, they are able to guide you when you’re starting out in business, and can steer new businesspeople in the right direction. Some banks have business operating guides available, and will be able to assist with budget and cashflow forecasting solutions. At any time during your corporate life, you may want to re-evaluate your financial situation, and your bank can offer invaluable suggestions for this.
Whether your needs are setting up a small business, extending an existing one or developing global marketing, speak to the account manager at your bank to see what they can offer. Banks have extensive experience, knowledge and resources at hand to assist you with your corporate finance needs. Work in partnership with your bank to provide the best possible service to your clients.
Nicky Taylor is a Christchurch-based writer and illustrator. As a long-term consumer of corporate banking services, she is aware of the issues and concerns people may have around financial management.