For many owners of growing companies, the choice of a bank is a crucial decision. A solid relationship with a bank can make or break a company. Banks provide relatively cheap capital to fund expansion as well as the everyday transactional and payment services that enable everyday operations.
A poor relationship with your bank can hinder growth plans and even put you out of business. Still, many business owners simply stumble into doing business with a bank because of convenience or with the mistaken assumption that all banks are all the same. A wise business owner puts effort into developing and maintaining a relationship with their bank, just like they do with key customers and suppliers, to ensure their long term success.
