Open Association of Landscape Industries
What is the best bank for a small to medium sized business?
I am not going to influence the start of the debate by giving an opinion but it would be of great interest to know who is providing the best service for small to medium sized land-based businesses at the moment?
Please contribute both positive or negative experiences.
Please contribute both positive or negative experiences.
Replies to This Discussion
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PRO MemberPermalink Reply by Graeme @ BGS on -
Steve Kenyon The Garden Company said:andy natwest annoyed me , by saying they give new customers 2 years free , i only got 3 months , to greedy for me , i wouldnt mind its all my own money too, a non credit account ,work that out , just dont get it
The monkeys done the same to me but quickly corrected it. Wish the buggers haven't now as they ended up causing no end of pain.
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PRO MemberPermalink Reply by Gardens4u.co.uk on -
very good.
dont think i will again...............i hope. only overdraft ! / cards lol
Steve Kenyon The Garden Company said:never had any finance for work
Robin Ainsworth said:has anyone had a high street bank loan since recession - to help with cash-flow , expansion, investment or vehicles from your bank or other ? not loan co.
IMO/ experience , they are all a rip-off ! and dont help you.
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Permalink Reply by T & S Plants on
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Well completely out of the box, why not do it ourselves?
If we start from the perspective that all banks (note the lower case) are there to back big business, big shareholder payouts and do nothing for small business, that's a good starting point.
If you run a big business or are a bank shareholder please do not read on.
Most people think, even post the credit crunch, as though banks are there for us as a service, like Water, Electric or Gas. Ooops sorry, they are in private hands as well. That fact is banks are there as profit making organisations, just like your business.
If your current bank gives your business a good service, please answer the following questions:
1. Why does it take 4-5 days from your customer paying you, for the money to appeear in your account?
2. What happens to your money in that 4-5 days, I'll guess that the Bankers (sorry spelling mistake, should have been a capital W) are gambling with your money over that period.
3. For a fee-free account do you really believe that the bank makes nothing out of you and your business? Please remember he 4-5 days!
4. For service and business advice, many companies appear on these pages to have made that sacrifice for apparent free-banking.
When I ran a small business and had a commercial mortgage with HSBC we were charged around £600-£800 for our manager to visit once a year. Fair, I think not.
From an economic perspective, small business is a burden to banks. They have to make charges, as they cannot, yet, charge the general public for their accounts. although it's coming. However most banks make their money from big business, and those that pay the piper call the tune, generally that does not relate to most Nurseries,Landscapers or Garden Designers.
AS LJ now has over 1000 members why don't we start a Land based Bank, that is the type of thing LJ should be doing, looking after it's members. With this power we should not just go to some or other financial institution to seek a deal, when we could make our own?
I have no idea how it all works, since I have always viewed the banking system as basically corrupt, I have never sought to be involved in it, but it must be possible???? Especially in the current climate.
No current bank offers small business a good deal, since they are there to make a profit from you. With our own non-profit making Land Bank, this has to be the way forwards.
So, how about it?
regards,
Steve
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PRO MemberPermalink Reply by Gardens4u.co.uk on -
a co-operative ! :-) good idea, - phil (getting deeper) but better ?
Steve & Tina said:Well completely out of the box, why not do it ourselves?
If we start from the perspective that all banks (note the lower case) are there to back big business, big shareholder payouts and do nothing for small business, that's a good starting point.
If you run a big business or are a bank shareholder please do not read on.
Most people think, even post the credit crunch, as though banks are there for us as a service, like Water, Electric or Gas. Ooops sorry, they are in private hands as well. That fact is banks are there as profit making organisations, just like your business.
If your current bank gives your business a good service, please answer the following questions:
1. Why does it take 4-5 days from your customer paying you, for the money to appeear in your account?
2. What happens to your money in that 4-5 days, I'll guess that the Bankers (sorry spelling mistake, should have been a capital W) are gambling with your money over that period.
3. For a fee-free account do you really believe that the bank makes nothing out of you and your business? Please remember he 4-5 days!
4. For service and business advice, many companies appear on these pages to have made that sacrifice for apparent free-banking.
When I ran a small business and had a commercial mortgage with HSBC we were charged around £600-£800 for our manager to visit once a year. Fair, I think not.
From an economic perspective, small business is a burden to banks. They have to make charges, as they cannot, yet, charge the general public for their accounts. although it's coming. However most banks make their money from big business, and those that pay the piper call the tune, generally that does not relate to most Nurseries,Landscapers or Garden Designers.
AS LJ now has over 1000 members why don't we start a Land based Bank, that is the type of thing LJ should be doing, looking after it's members. With this power we should not just go to some or other financial institution to seek a deal, when we could make our own?
I have no idea how it all works, since I have always viewed the banking system as basically corrupt, I have never sought to be involved in it, but it must be possible???? Especially in the current climate.
No current bank offers small business a good deal, since they are there to make a profit from you. With our own non-profit making Land Bank, this has to be the way forwards.
So, how about it?
regards,
Steve
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Permalink Reply by Fenlandphil on -
"Well completely out of the box, why not do it ourselves?"
Keep me posted.
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PRO MemberPermalink Reply by Graeme @ BGS on -
Excellent post Steve,
Setting up a credit union is do-able subject to gaining FSA approval and does involve a fair bit of captial and a big commitment from all involved. But wouldn't it be great!
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PRO MemberPermalink Reply by Phil Voice on -
"Well completely out of the box, why not do it ourselves?"
These are the kind or systems I aspire to Steve but feel (as Graeme alludes to) it would be too big an operation at our fledgling stage - especially as we have to consider that we would have to have a banker ourselves.
I send out many emails and make telephone calls to try and drum up the interest of services I feel could support membership. Lloyds TSB pensions, insurance brokers, accountants, and solicitors are just a handful.
I am afraid that I encountered so many barriers and I think the institutional manner of so many of these services means that it will take some time to change their mindset to one of a social sharing - although that day is coming, whether they like it or not.
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PRO MemberPermalink Reply by Gardens4u.co.uk on -
sharing lol ! not their favourite word !
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PRO MemberPermalink Reply by Gardens4u.co.uk on -
youv'e look into it the G ;-)
Graeme @ BGS said:Excellent post Steve,
Setting up a credit union is do-able subject to gaining FSA approval and does involve a fair bit of captial and a big commitment from all involved. But wouldn't it be great!
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Permalink Reply by Niko Coulthurst on -
We are just about to sign on the dotted line with Santander so wil let you know :o)
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Permalink Reply by The Perfumed Garden on -
This may be the way of the future. This is happening in Cambridge at the moment but you do need a lot of money behind you.
Simon @ The Perfumed Garden
Steve & Tina said:Well completely out of the box, why not do it ourselves?
If we start from the perspective that all banks (note the lower case) are there to back big business, big shareholder payouts and do nothing for small business, that's a good starting point.
If you run a big business or are a bank shareholder please do not read on.
Most people think, even post the credit crunch, as though banks are there for us as a service, like Water, Electric or Gas. Ooops sorry, they are in private hands as well. That fact is banks are there as profit making organisations, just like your business.
If your current bank gives your business a good service, please answer the following questions:
1. Why does it take 4-5 days from your customer paying you, for the money to appeear in your account?
2. What happens to your money in that 4-5 days, I'll guess that the Bankers (sorry spelling mistake, should have been a capital W) are gambling with your money over that period.
3. For a fee-free account do you really believe that the bank makes nothing out of you and your business? Please remember he 4-5 days!
4. For service and business advice, many companies appear on these pages to have made that sacrifice for apparent free-banking.
When I ran a small business and had a commercial mortgage with HSBC we were charged around £600-£800 for our manager to visit once a year. Fair, I think not.
From an economic perspective, small business is a burden to banks. They have to make charges, as they cannot, yet, charge the general public for their accounts. although it's coming. However most banks make their money from big business, and those that pay the piper call the tune, generally that does not relate to most Nurseries,Landscapers or Garden Designers.
AS LJ now has over 1000 members why don't we start a Land based Bank, that is the type of thing LJ should be doing, looking after it's members. With this power we should not just go to some or other financial institution to seek a deal, when we could make our own?
I have no idea how it all works, since I have always viewed the banking system as basically corrupt, I have never sought to be involved in it, but it must be possible???? Especially in the current climate.
No current bank offers small business a good deal, since they are there to make a profit from you. With our own non-profit making Land Bank, this has to be the way forwards.
So, how about it?
regards,
Steve
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Well it was a bit out of the Buxus, but I was pleased with the responses.
Small companies are basically "doormats" for everyone, yet they are the lifeblood of UK industry.
I'm sure Lj members have not the capacity to orgainse a bank at the moment. But, hold on, bring in ALP and BALI members, then add a few grower/farmers and, it just could be possible???
In answer to the NFU question, they are affectionally known within the Trade, as, No Flipping Use, and that's the polite version!
We all only hold ourselves back, individually and as businesses by what we think is possible. If we think negative, it is not possible, then that is how things will be.
I for one, am fed up with being a doormat.
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