Choosing the right bank for your business

Martin Seabrook from PROjEN, a specialist engineering project management company, based in Preston Brook, Cheshire, argues that choosing the organisation with which you bank should be given far more consideration than most companies currently give it.

Online PR News – 23-November-2012 – Runcorn, Cheshire – Martin Seabrook from PROjEN, a specialist engineering project management company, based in Preston Brook, Cheshire, argues that choosing the organisation with which you bank should be given far more consideration than most companies currently give it. It’s easy to choose a bank which gives the best commercial rates – especially when times are good and when you don’t really need them. It’s when things aren’t so good that a hasty decision can backfire.

Like many in business, I have heard a number of horror stories about the “originally friendly bank” turning the screw with unsustainable demands when market conditions change – and usually at the time you need the bank the most. When choosing a Bank you are looking for stability, a good history of lending and naturally you also have to consider commercial terms and any added value services the Bank provides. However, because most Banks offer the same basic service, choosing a bank usually comes down to more “touchy feely” criteria such as trust, their understanding of your business, potential business contacts they can offer, the ability to challenge and offer ideas in a positive way and most of all for the Bank to be consistent in their approach. The culture of the Bank should reflect that of the business wherever possible.

Without sounding too obvious the choice of a bank should also be looked on as a long term commitment. The most common quotes I hear from other businesses disappointed in their banks are “we only see them when times get tough”; “they’re happy to lend when we don’t need money but won’t lend when we do need it”; and “at the first sight of problems our rates go up and their stance becomes much tougher making it even more difficult to trade”. All these are symptoms of a poor banking choice and/or relationship where neither side fully understands where the other is coming from.

If we are to emerge from this current tough trading environment, then the banks need to work closer with the engineering and manufacturing sector and understand the importance of investment in securing long term prosperity. Without a partnership approach, the banks could leave the sector non-competitive in a global market.

To find out more about Martin Seabrook and PROjEN, visit www.projen.co.uk

PROjEN is an owner-managed business which was formed in 1978 and has more than 100 employees. PROjEN offers full design, project management, planning, cost control, procurement, construction management and commissioning services to a wide range of clients including GlaxoSmithKline, Akzo Nobel, Cabot, McCains, Smith & Nephew and Shanks and Sanofi. Markets served include the food, pharmaceutical, manufacturing, chemical and waste sectors and the role that PROjEN plays varies from acting as client engineer through to the execution of large EPCM (Engineer, Procure and Construction Management) contracts.

PROjEN is accredited to both ISO 9001 and ISO 14001 and maintains an excellent Health and Safety record. PROjEN has a sound reputation for delivering projects on time and to budget and adding value by challenging clients and bringing in ideas from other industries.

In 2011 PROjEN launched its Bioenergy division which specialises in the planning, permitting, design and construction of facilities for the production of biogas by anaerobic digestion, biomass, bioethanol and biodiesel.

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Contact Information
Steven Mitcehll
PROjEN
PROjEN PLC PROjEN House Wellfield Preston Brook
Runcorn Cheshire, WA7 3AZ

01928752500