Most potential business owners are known to shy away from actually starting their own venture simply because they are unsure about how get funding. The lack of capital is the most common reason that a business start up doesn’t work and closes down soon after it began.
A research study taken on by NatWest cites lack of cash flow to be the reason why as many as 42% potential business people don’t work on their business ideas.
Now there is hope for business owners of start-ups, as NatWest introduces the concept of free banking for new entrepreneurs. The bank is waiving charges on payments for the first 2 years of the business.
This decision was welcomed by The Forum of Private Business (FPB) and it hoped that other banks will also follow suit and encourage new and upcoming entrepreneurs.
Matt Hardman, the FPB campaigns manger says, “The early stages of a company’s life are spent trying to keep costs to a minimum, and not having to worry about the cost of transactions or your overdraft can leave you free to concentrate on other matters.”
It is important for start-ups to invest in on-demand small business infrastructure that will allow the business owners to concentrate on their core business activity.
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