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How to get the most out of your bank manager

Key points in this article

  • New client introductions
  • Your bank manager as a sounding board
  • Networking

How your bank manager can help your business grow

Banks are vital to the success of any small business. Not only will they provide good advice and help with planning, but they can also point you in the direction of others in your industry that can help you and provide networking opportunities. They want to see you succeed as much as you do, and they want to help you achieve your objectives. So make the most of them!

 Finding expert advice

At ANZ, we’ll find you the right small business specialist who’ll support your business’s goals for growth and will offer the right advice. They’re there to help you:

  • apply for a suitable business loan
  • manage your cash flow
  • streamline your accounts.

Your bank manager can be like your very own personal business consultant – and at no cost.

Introductions to potential new clients

Your bank manager may be able to introduce you to possible new clients, or even potential suppliers. They’ll probably have a number of accounts they manage, so you never know who they might be able to introduce you to that could result in a mutually beneficial relationship.

Potential new client introductions are on the cards with a great bank manager

Your bank manager as a sounding board

Aim to build a rapport with your bank manager where you can trust their judgement and use them as a sounding board. Their advice might prove to be useful during:

  • Stages of growth – such as when you plan to open a new store, export overseas, develop new goods or services, or enter new markets.
  • Signs of trouble – like when debtors aren’t paying, your cash flow is weak, the economy is trending down, and you’re struggling to pay your creditors.

What’s really important is to be up front and honest with your bank manager at all times. It’s the best way to make sure they’ll be able to help your business in the short and long term.

 

Trust your bank manager’s judgement so you feel comfortable
using them as a sounding board

Re-evaluating your loan

If you have a bank loan for your business, it’s vital that you discuss it regularly with your bank manager. Over time, your business will evolve and may need less or more credit.

Reassessing your loan with your bank manager means you can:

  • Save money on interest – for example, it might be possible to offset the balance held in your business’s savings or current account against your business loan.
  • Restructure – to lessen financial problems and gain more cash on hand.
  • Reduce your debt quicker – by making voluntary or extra payments.

Networking and industry assistance 

Through ANZ you’ll have opportunities to network and connect with other business owners, perhaps even within your own industry. We can also refer you to other specialists in the bank who may be able to help with your particular industry challenges and problems.

Check with your bank manager for invites to certain networking events
where other business owners are present

Specific financial solutions 

 Finding the right financial solution can sometimes be difficult. But with the help of your bank manager and a variety of products, including loans and savings accounts, you’ll have access to the right solutions for your business as it aspires to grow.

Next steps

Get in touch

1800 801 485

Mon-Fri 8.30am to 8pm (AEST)

Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider whether it is appropriate for you.

ANZ recommends you read the applicable Terms and Conditions and the ANZ Financial Services Guide (PDF 104kB) before acquiring the product.

This page contains only general information which is subject to change and is not a substitute for commercial judgement or professional advice. This information does not take into account your personal and financial needs, particular objectives and/or circumstances, and you should seek appropriate independent advice (which may include property, legal, financial, taxation and accounting advice) before making any decisions, investing, or acting on it.

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ANZ tools, templates and checklists are only some of many ways to analyse a business or industry to assist your planning and business decision making. You should seek the assistance of your business advisor or accountant when either planning for or analysing your business' performance. To the extent permitted by law, ANZ makes no warranty and has no liability, in respect of your use of and reliance on these tools.