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Banking
Resources for Start up Businesses
When starting a
business, your choice of bank or other financial institution can
be crucial. Typically, when deciding on your financial
institution you will have a number of questions going through
your head.
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Do they
provide the banking services I need?
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What is
their cost structures?
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Will I be
able to work with them?
-
Do they
have the locations you need?
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What is
their attitude to lending me money (if needed)?
To find the
answers to these questions you will need to research the banks.
Following is a starting point to do this.
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Australia’s Leading Banks
Below are website links to Australia’s leading
banks. The average small business owner would be familiar with
most of these names. Some banks aim to service particular
market segments. For example, Elders Rural Bank obviously
targets rural clients. Similarly, Rabobank targets food and
agribusinesses. You are likely to use the internet to research
your bank, but ultimately business success is about people so
you should visit your local branch and establish the face to
face relationship before you choose your bank.
Australian
Bankers Association - ABA's Code of Banking Practice
Credit Unions
Increasingly Credit Unions are targeting small to
medium sized businesses to provide a full range of traditional
banking services and they would claim (probably correctly) at a
more competitive price.
Australian
Credit Unions
Having Problems with Banks?
The relationship with a bank is not always a
smooth one. If you are having problems or just wishing to know
what is acceptable practice the links below will provide a solid
starting point:
Banking and
Financial Services Ombudsman
Australian
Government Consumer Help Banking
Banking
Legislation
Substitute Banking Services
The online revolution has provided a number of
online substitutes for banking services. The most obvious of
these are merchant facilities and credit card facilities that
are now provided on line with organisations such as
Paypal
Back to
Example Business Start Up Action Plan
Resources for Business Growth
Typical
services provided by banks
to small businesses
Find out about
home loans
Learn
how to start a
business |
