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Business121 Small Business Newsletter #79

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In this week's Business121:

1. 70% of small businesses satisfied with their bank
2. The online media tool every business should use
3. Dragons' Master Class - the numbers you need to know!
4. 7 ways to check your story idea is newsworthy
5. DIY PR Tips - How to get your company in the news
6. Top PR Tips and Advice for Small Businesses
7. Small Business Banking still not good enough says FSB
8. SME's performing strongly in first quarter 2007
9. 8 in 10 bosses recruit externally rather than promoting internally
10. One in three employees exaggerate sickness to get time off
11. Entrepreneurs need smart thinking to stand out from the cleantech crowd

70% of small businesses satisfied with their bank

The FSB have just released their review of small business banking (see News). I wouldn't say the report makes for interesting reading but the three main strands of the findings are worth looking at;

1. The majority of small businesses (70%) are satisfied with their bank

1. But when the service goes wrong it goes badly wrong. Switching accounts, overcharging and poor customer services are the main areas where small businesses are not satisfied.

1. The banks are not fulfilling their commitment to the Competition Commission to offer free banking or pay at least 2.5% interest on business current accounts and to publicise these services to their customers.

I must admit, I was quite surprised to read that 70% of small businesses are 'satisfied' with their bank. But I guess 'satisfied' can cover a multitude of sins.

Our expectations of customer service levels from large corporates can be pretty low, so we may well just be satisfied when nothing goes wrong. I wonder how many of the 70% that are satisfied would actually recommend their bank to another small business owner?

The most disappointing finding is that most banks are still not paying interest on business current accounts. In 2002 the Competition Commission recommended that banks should pay interest on current accounts of at least 2.5% below base rate. Or, alternatively to offer accounts that are "free of money transmission charges".

The banks are presently being forced to hand back billions of pounds to customers they hit with illegal charges. So will they start complying with their commitment to the Competition Commission to offer real free business banking or to pay interest on business current accounts soon?

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The online media tool every business should use
These days generating publicity materials is not just about trying to promote your business in the media. It's also about enhancing the perception of your business to everyone who has any contact with you. A busy press centre suggests a successful busy business, and is an essential tool for every new business. Some top tips on how you can impress journalists and potential clients.

Dragons' Master Class - the numbers you need to know!
Why do some entrepreneurs consistently fail to appreciate how important it is to have financials to hand when pitching an idea? This article highlights some of the key financials that any business owner needs to know before submitting or pitching a business plan to a ‘dragon’ of any hue.

7 ways to check your story idea is newsworthy
The hardest thing about getting free publicity is coming up with a great story idea in the first place. Creating press releases and selling the idea into journalists is a lot easier with a fantastic idea to drive their interest. Don't waste time writing press releases that will never be used by the media. Here are 7 easy ways to check your story idea is newsworthy.

If you'd like to generate more PR for your small business check out some of our other great articles on PR;

DIY PR Tips - How to get your company in the news
PR is often considered an unknown science, untouchable by small businesses and best left to the experts and bigger players. But getting good media coverage needn’t be scary or complex. Here are some simple tips for dealing with the media, writing press releases and getting your business in the news.

Top PR Tips and Advice for Small Businesses
As a new business, attracting customers who will buy your product or service is paramount. There are many different ways that you can go about this, but if you have the time to invest, PR will return some excellent results for your business – at very little cost. Follow these top PR tips to get free publicity and people excited about your small business.

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SMALL BUSINESS NEWS
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Small Business Banking still not good enough says FSB
Although small business banking services have improved over the past few years, when service goes wrong, it goes badly wrong, according to a recent review of small business banking.

SME's performing strongly in first quarter 2007
UK small and medium sized enterprises continued to perform strongly in the first quarter of 2007 with the rate of growth picking up slightly on the previous quarter, according to the PKF SME Index

8 in 10 bosses recruit externally rather than promoting internally
A new survey shows that 81% of bosses do not recruit internally, and that 77% of workers feel they are suitably qualified and experienced for promotion.

One in three employees exaggerate sickness to get time off
Research has revealed a discrepancy between what employers and employees deem to be acceptable reasons for calling in sick. Also, some tips for creating an effective sickness absence policy.

Entrepreneurs need smart thinking to stand out from the 'cleantech' crowd
Increasing flows of investment cash into the 'cleantech' sector is opening up new opportunities for entrepreneurs but also creating dangers, according to gateway2investment.

** For the latest Small Business News, visit http://www.Bytestart.co.uk **

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SEE YOUR AD HERE
Business121 is read by over 12,000 small business owners every week. Advertise in our newsletter from just £60+vat per issue. Please email Classified@Business121.co.uk for details.

(c) Business121.co.uk 2007

Posted May 2, 2007