From the course: Foundations of Business Banking
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Business advising
From the course: Foundations of Business Banking
Business advising
- Banks offer business advisement services especially to startup businesses, including risk management, technology upgrades, and business development. A bank can be viewed as a hub for business and financial expertise. A bank is willing to provide you with that expertise for at least three reasons. First, the bank uses those business advisement skills to attract your attention. You are then more likely to be an account holder, a depositor, and a business loan customer. Second, the bank provides these services to its existing customers to make them financially stronger. The bank wants you strong so that you are more likely to remain a viable customer and more likely to be able to repay outstanding loans. Now, third, the bank sells these advisement services so they are a separate source of profits. So here are descriptions of some of the business advisement services offered by banks. Banks offer consultation about different…
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