FEATURE: BUSINESS BANKING


Managing your finances


RBS tells Chamber Profile the ways a business owner can maximise their cash-flow and manage outgoings


Simple and convenient business banking is important for every business owner and is an essential part of your day to day operation because it allows you to manage your company finances from paying staff to supporting growth plans. Here are some top tips on how to manage your finances and ensure applications for finance are well prepared.


Present a strong business plan When approaching your bank or lender it is important to present a robust and detailed business plan outlining your business goals, strategies, market and financial forecasts. Keep it realistic and detailed, including real life targets, because this document provides the financer with the information they need to assess the viability of your business. Remember to demonstrate your ‘Plan B’ should things take a turn – be it funding options, alternative suppliers or different routes to market.


‘Explain why you need the


funding - whether it is for day to day management or for future growth’


16 Chamber Profile July/August 2017


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