Archive for December, 2008
HBOS And Lloyds Small Business Pledge
The two banks, which are due to fall under partial state ownership when their merger is completed early in the new year, say that the measures are aimed at easing the financial pressures that firms are facing in tough economic times.
Under the HBOS package, through its Bank of Scotland Commercial arm, the company is to guarantee the pricing of overdrafts to small businesses for 12 months from the date of arrangement of new loans and renewals.
It is also to launch a small business helpline early in the new year providing help and advice to customers. A downloadable guide to “managing your cashflow” will be available to all small businesses from the start of next week.
It has secured £250 million of funding from the European Investment Bank to provide lending at discounted rates to its small and medium-sized customers during the economic downturn.
It follows a similar package of guarantees announced by Royal Bank of Scotland.
But the banks deny that political pressure has forced them to announce the measures.
Adrian Grace, managing director of Bank of Scotland Commercial, said: “Bank of Scotland has been supporting and funding small businesses for over 300 years.
“We understand the financial pressures that they are facing during these difficult economic times. That is precisely why we have launched this package of measures – to provide both financial assistance and, equally importantly, some reassurance that the bank is committed to supporting small business throughout the UK.”
Lloyds TSB has promised to pass on any future interest rate cuts in full over the rest of this year and next, while pledging to avoid increases in charges unless there is a material change to a customer’s business.
It also pledged to improve the advice on offer to customers with 120 “expert guidance” seminars planned for across the country.
John Maltby, managing director of Lloyds TSB Commercial, said its new charter was designed to “inject much-needed business confidence”.
Yet in a conflicting message, Lloyds chief executive Eric Daniels warned today that the Government’s bank bailout could deter bank lending.
He said that the cost of the preference shares that banks are issuing to the Government and the continued strain in wholesale banking markets has reduced appetite among banks for new lending.
“I don’t believe that banks are going to quickly restore lending and help the economy because of the funding and capital issues,” he said.
“Banks will try and repay the Government as quickly as possible. And one of the ways to free up capital is to stop lending.”
About the author: Paul Stanford http://www.paulstanford.co.uk/blog has provided practical advice to hundreds of entrepreneurs for the past 5 years helping them to successfully start-up, transform and sell their businesses. Get in touch to see how his business http://www.4momentum.co.uk can help do the same for you. You have full permission to reprint this article provided this box is kept unchanged.
Copyright 2008 Paul Stanford
Free Green Advantage Workshops For Tourism Businesses
Business Link is pleased to be working in conjunction with Tourism South East, the region’s tourist board, in delivering a series of ‘Green Advantage’ workshops. In a period of financial uncertainty and a surge of interest in green issues and more sustainable good practice, the leading edge course enables you to take advantage of this growing market by revealing how you can make significant savings, improve your green credentials and market yourself accordingly. Attendance on the course also qualifies you for credits towards the Green Tourism Business Scheme, Europe’s leading sustainable certification scheme for the tourism industry.
The workshop is FREE and runs from 10.30 for coffee with the workshop commencing at 10.45 concluding at 3.15pm.
Complimentary lunch will also be served from 12.45 – 1.15pm.
Throughout the workshop it will cover how to:
Ø Save money – reduce, reuse, recycle and rethink
Ø Buy local – sourcing and promote other local produce and attractions
Ø Create customer advantage and adding value to your customers’ experience and develop new ‘green’ products and services
Ø Develop an environmental policy – get the best out of your whole team, make environmental choices and win from them
Ø Communicate your green credentials and gain a marketing advantage by retain current and targeting new customers.
Ø Stay ahead of the pack and capitalise on new business opportunities and boost your business’ performance
‘Green Advantage opened my eyes to the massive business advantage to be gained through tapping into the growing public interest in green issues’.
Be sure to reserve your space by calling 0845 600 9 006 or visit www.ruralbookings.co.uk
About the author: Paul Stanford http://www.paulstanford.co.uk/blog has provided practical advice to hundreds of entrepreneurs for the past 5 years helping them to successfully start-up, transform and sell their businesses. Get in touch to see how his business http://www.4momentum.co.uk can help do the same for you. You have full permission to reprint this article provided this box is kept unchanged.
Copyright 2008 Paul Stanford
