UK Business News

Lloyds TSB business banking customers can expect many things from their bank when opting for a small business account and many of these may go beyond what they might otherwise expect. Setting up a new project can be tricky and for this reason the bank offers a wide range of tools and guidance to help people along with some of the financial obstacles and challenges they might face.

If your company is already up and running or is in its earliest stages, the bank has a selection of business accounts that could be ideal for your needs. If you fall into the former category but are unhappy with the service you are currently getting, you may find switching banks is the right way to go. In these cases Lloyds TSB’s business banking department will do all it can to make the transition as easy as possible. Those in the latter stage however may be looking for all the help they can get and it is here they may also find they’re well catered for.

In order to help manage cashflow and resources in an effective way, Lloyds TSB has produced a selection of guides for both the experienced and novice entrepreneur. The bank has also produced a charter for small businesses which is designed to underline exactly what type of support can be offered across pledges that could provide help in the toughest of economic times.

The selection of guides also includes details on how to plan for these conditions and how changes in the market can impact your venture. Information on how to encourage customers to pay up on time is also featured, as is advice on how to monitor money flows between you, your customers, suppliers and employees. A selection of downloads, podcasts and webinars that support some of these issues are also available via the Lloyds TSB business banking website, meaning you have direct access to tips from a selection of experts once you are onboard.

The bank also has a partnership with Sage, one of the biggest suppliers of business management software in the UK, which provides users various free tools. In addition to this there is a 90-day trial version of Sage Start-up that will show you how to get to grips with some of the key issues that affect new businesses. Information available from the Institute of Credit Management is also available that covers subjects like knowing your customer, invoicing, credit insurance and treating suppliers fairly.

All of the above, in conjunction with access to a dedicated relationship manager that will help you make the most of your new business account, could mean that Lloyds TSB could be a great partner to have in getting your project where you want it to be.