Financial Guide for SMEs - SME Corporation Malaysia
Financial Guide for SMEs - SME Corporation Malaysia
Financial Guide for SMEs - SME Corporation Malaysia
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<strong>Financial</strong> <strong>Guide</strong> <strong>for</strong> <strong><strong>SME</strong>s</strong>You should consider the following factors be<strong>for</strong>e you change banks:• Will your business incur additional costs as a result of switching banks?(<strong>for</strong> example, costs in notifying customers and suppliers, changing depositand chequebooks).• Is the new bank’s service level good? You may be able to find out by talking tosome of their customers. You may have customers or suppliers who have anaccount with the new bank.• Give preference to the bank that allows you to meet with bank staff other thanyour account manager. This should include the bank manager and perhapseven the regional manager. Often, staff change on a regular basis withinbanks, so it is preferable that more than one staff member of the chosen bankhas an understanding of your business and the banking relationship.TIPComparative in<strong>for</strong>mation on bank finance is available on the<strong>SME</strong> Info Portal at www.smeinfo.com.my orBanking Info at www.bankinginfo.com.my151chapter 7-13 p79-181 Eng.indd 1518/15/11 5:03:07 PM
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