If you’re starting or running a small business, you know firsthand just how much there is to do. Chances are, you’re feeling overwhelmed, and imposter syndrome may be setting in.
No matter how qualified you are, how much experience you have, or how hard you’ve worked to get where you are, running a small business is hard. It gets confusing and frustrating, fast—especially when it comes to managing your small business finances. Whether you’re trying to figure out how to file your business taxes or managing different applications to pull together funding as you grow your business, there’s a lot going on.
Wouldn’t it be nice if you had a financial expert in your corner, someone who knew the finance world inside and out and cared about you and your business?
The objectivity that an external advisor can offer is priceless, and having a full-time financial professional who keeps tabs on your business is invaluable. Finding a business banker you trust is a total game-changer.
Here’s what you need to know.
The Services a Business Banker Can Offer
A business banker can help you with myriad parts of your business. Let’s take a look at the most essential.
Business Checking
Your business will need to have a designated account to pay bills, get monthly statements, and use online banking services. Depending on the type of business checking account, you can look for competitive interest rates and low (or no!) monthly fees.
Business Savings
In addition to a business checking account, you’ll need at least one account to keep larger amounts of cash. Typically, business savings accounts will offer higher interest rates to help you maximize your savings potential.
Business Cash Flow
Because you already have enough on your hands managing your products or services (as well as your employees and customers), leave it to your business banker to oversee credit, bills, deposits, and more.
Business Loans
Ready to level up your business? Your business banker can help you determine if you’re eligible for a good business loan, support your application process, and even help you figure out the best way to use your funds after your application is approved.
Business Retirement Plans
If your business needs to offer benefits that suit your employees’ needs, you’re going to have to spend time selecting plans, managing trust documents, and staying updated on federal and state laws. Or you could have your business banker help you manage all of that—and more!
The Reassurance of a Professional Ally
As critical as these services are, the real magic of having a dedicated business banker isn’t simply the ability to manage a checking account. It’s having someone on your side: someone who will answer the phone, someone who you can trust for both advice and action, and someone who is working in your business’s best interest.
Why You Seek Personal Service (Don’t Be a Name on a List!)
At many bigger banks, you can sign up for business support, but you’re just a number, another to-do on an overwhelmed financial expert’s list. You deserve personal attention and support.
Here’s a short list of perks that come with the personal service you’ll find at a smaller bank:
Timely Service
If you need help, you likely need it quickly. At least, you don’t want to feel like you’re waiting for an undue period of time, and then you definitely don’t want to feel rushed once you’re actually talking to your banker. At a local community bank, you’ll know that your banker has the time and bandwidth necessary to fully support you and your business.
Flexibility on Fees
No one likes fees, but many larger chain banks are surprisingly rigid in their fee structure. This leaves little wiggle room for schedules or amounts that work better for a specific business. Smaller banks may be able to offer more fee options.
Non-Generic Advice
A smaller business bank, especially one that works with and gives back to its local community, really cares about the people it serves. Because this is the case, clients will typically enjoy much more personalized support and services than they’d find elsewhere.
Partner with BNC National Bank to Run Your Small Business with Confidence
If you’re a small business owner or new business owner looking for a banking partner, check out the resources available at BNC National Bank. Our financial experts and business banking partners are ready to assist with any question, big or small. We’re friendly and knowledgeable, and we want to see you succeed.
Give us a call to schedule a meeting about your small business at your convenience!
