In a dynamic business environment, decisions are often made quickly, without considering all the circumstances, and it happens that the entrepreneur spends more time on computers than the choice to choose a commercial bank, and it is difficult to determine the true criteria because at first glance similar offers from banks. However, it is necessary to consider several items.
First of all, you should check whether the bank is a person whose job is to take care of small businesses and entrepreneurs, as well as how much time available. So the choice is not limited to open an account but an assumption cooperation with the officer in charge of the bank’s small businesses and entrepreneurs, to which should be jointly considered for efficient business solutions. It is extremely important that a counselor from the bank at least once a year a plan for the future.
The next step is to define the need for financial products and services of the bank, but it is not good to define only current needs, but also the steps in the next period of, say, two years ago, when the company reaches the planned objectives. The basic needs of all undertakings relating to the opening and maintenance of current accounts for the company and for the employees, time deposits and company owners, on-line services, international payments, POS terminals, debit cards and business credit cards business. Additional requirements relate mainly to support credit: overdraft, and allowed overdrafts, short-term liquidity loans, loans for working capital, long-term investment loans, lines of credit, leasing, factoring, issuing local currency and foreign currency bank guarantee … On each product or service that may arise from the need should talk to a counselor at the bank and get acquainted with the way of implementation.
In the past two years a major role in overcoming the economic crisis was a state subsidy of small businesses and entrepreneurs, and in choosing the bank has to take into account the active participation of banks in these measures because the entrepreneur through its commercial bank to be able to realize additional benefits provided by this program, subsidizing part of the interest. It is particularly important that preduzentik check with your counselor what’s hot on the program of measures and to check that it meets the requirements for the realization of loans at subsidized terms. In addition, the contractor should check with your bank and the availability of other credit lines from international financial institutions and funds are used to support entrepreneurship and small and medium enterprises. Usually there are lines of credit that involves more favorable loan terms or even partially grantovan of funds.
Finally, different banks care about customer satisfaction, otherwise resolve any complaints, do not provide all the advanced services, or in the same time responding to the needs of the client. Of great importance is the information and the extent to which bank can provide quality service to the entrepreneur. Because it happens that a bank has an excellent service per job, while at others it may not seem so the entrepreneur is forced to choose another commercial bank. However, the key factor that should determine the selection of the bank, in addition to the above, is the confidence which the bank has with the entrepreneur, which can be solely the result of the strategic orientation of the Bank’s long-term business relationships with customers, including their monitoring at all stages of development.