Are you one of the 75% of British business owners who have no contact with their bank?

G8relationshipsA recent study has discovered that an incredible 73 percent of business owners have no contact with a relationship manager at their bank.

A bank account is a fundamental requirement for any business – we literally couldn’t do business without one – and it appears that the banks are missing out on the opportunity to build enduring relationships with their customers.

For many business owners, the days of a visit from a friendly, knowledgeable bank manager are a thing of the past, replaced instead by the full call centre experience. It’s therefore not surprising that 67 percent of those surveyed are actually happy to look beyond their bank when seeking finance.

Even though access to finance for SMEs remains high on the political agenda in the wake of the banking crisis, British businesses have never had so much choice when it comes to raising finance. The continued rise of peer to peer loans, online (“fintech”) lenders and general competition in the alternative finance space means that the bank is just one funding option open to a director.

Communication and trust play a key role in any business to business relationship, and without that regular ‘touch point’, how do businesses benefit from the advice and support of a lending partner?

With the major clearing banks adopting a passive approach to the majority of their business customers, offering basic services and minimal face to face advice and support, it is not surprising that businesses are shopping around when it comes to raising finance.

The attraction of a smaller, independent funder offering high quality relationship management is clear.

Here at Gener8, clear, 2-way communication with our clients is a fundamental aspect of the relationship. This enables us to anticipate their requirements and provide the right support at the right time. By sticking to our core values of great value client service, we are driven to meet the needs of business owners, who demand a real business relationship.

Pushing up, to kick Cancer

Ian Wedge, Gener8’s Regional Sales Director, mingled with local business people at a Barclays networking event on 22nd July, in bustling Bournemouth.

Besides being able to get his hands on the Barclays Premier League trophy in all its glory, Ian was able to meet local Bournemouth business people, including Leon Warner, a Group Leader with Utility Warehouse (www.leonwarner.com).

Leon explained all about his current fundraising efforts in aid of Lewis-Manning Hospice (www.lewis-manning.co.uk), a charity also close to Ian’s heart.

Ian Wedge Gener8 finance

Left – Ian Wedge Right – Leon Warner

Lewis-Manning Hospice is a voluntary organisation located in Poole, that offers free specialist palliative nursing care to around 700 local people each year living with       cancer and other life-limiting illnesses.

Ian says, “I really enjoyed the event and meeting Leon. It was great to shake his hand in front of the famous Barclays Premier League Trophy and to hear all about how he is fundraising. I am also excited because my team AFC Bournemouth will be contesting the Barclays Premier League trophy this coming season, alongside the likes of the current holders Chelsea, Arsenal, Liverpool and Manchester United.”

Ian by the Premier League trophy

Leon is looking to raise £1,000 for the charity by performing a ‘daily press up challenge’.

Starting on day one, by doing 1 push-up, Leon aims to achieve his goal by adding 1 extra push up every day. With a goal of 200 and currently on 84 push ups, Leon is set to achieve his target!

Inspired by his effort, Ian pledged £100 to Leon on behalf of Lewis-Manning, when he reaches the halfway 100 push-up mark.

Ian and the Gener8 team wish Leon the best of luck completing his challenge.

If you would like to support Leon by donating, please follow the link: www.justgiving.com/Leonpressups