Potential small business owners and entrepreneurs are faced with many financial decisions when starting a small business. Main stream banks such as Santander, Lloyds TSB, Barclays and NatWest all offer competitive financial services for small businesses and hold over 80% of small business accounts.

In financing your business there are many considerations that need to be made, such as whether you will need a loan, and if so, which banking provider you would like to choose to assist you with your funding options, and what rates are available to you.

There are many advantages to allowing a bank to assist you with the finances for your business. For example, banks often have options where they will assign a financial advisor to deal with your specific banking needs.

It is important to consider what type of financial services a bank can offer for your business. Sometimes, for example, banks will offer free transactions when using an automated machine so that you do not incur any additional charges when using a debit card, or telephone and internet banking. Personal advisory services can provide you with expert financial advice from accountants. Other services include being given the opportunity to use bookkeeping software to help you keep track of your profit and losses.

Banks are also a useful source of educational literature for small business owners, which can help you with many aspects of running your business.

Below is a list of useful websites and banks which can help when considering financing a small business.

Barclays Bank – www.business.barclays.co.uk

Lloyds TSB – www.lloydstsbbanking.co.uk

NatWest – www.natwest.com

Small Business Finance UK – www.smallbusinessfinance.co.uk

Armada Finance- www.armadafinance.com

Daltons Business- www.daltonsbusiness.com

ICS Ideal Corporate Solutions- www.idealcs.co.uk