Businesses profile: Halifax Bank, Upper Norwood
Staring up a new business in Upper Norwood has been stressful to say the least. I can’t give the big reveal yet but hopefully I’ll be able to do a follow-up in future on my experiences once the doors have opened. Instead I wanted to write an article on part of the planning and banking side to starting a business.
My business idea revolves around fashion and you may have seen the adverts on TV where the girl is dreaming of making a dress for the queen, she starts to draw, gets educated, walks out of college into a bank and gets a business start up loan.
My story wasn’t quite that easy, nor did I ever really want to make a dress for the queen, but for many new start-ups the part of the story that is true for is the banking part.
I won’t name it, but around the time that I was writing my business plan and considering business banking, I had a terrible experience with my own personal bank that lead me to switch bank accounts in the local Halifax branch. It was while making the switch that I spoke with someone about my business idea and the possibility of financing.
This part is often most dreaded by entrepreneurs – the fear of rejection, but I have to say that the bank was always helpful and provided excellent support throughout the application stages and also through mentioning ideas and hazards in my business before I’d even thought about them.
For me business is in my blood and we know that Norwood is such a thriving community because of its small businesses. With most businesses disappearing off the high street and most start-ups failing fairly quickly, my advice is to develop a detailed plan with contingencies in place and also to team up with other professionals – be that in the banking partner you choose or in the networking groups you attend like Crystal Palace’s Business Bagel.
Good luck if you are thinking of starting something special and I’ll let you know when we’re open!
Category: Business and Politics
