Natwest business advisors
Natwest business advisors
Author
Discussion

LeeThePeople

Original Poster:

1,302 posts

214 months

Wednesday 29th April 2009
quotequote all
Useless frown

Being in a recession and im only young, been in business only 9 or so years ive never experienced a recession before. So thought I could do with a bit of help and advice on how best to weather the storm with my business interests. I spoke to my bank who offer this kind of service and at £575 I thought it could be a bargain if it gives me advice that means ill be able to get through without redundancies or losing businesses etc but what a waste of time and money.

Its took me two weeks to get all my information together, had my lawyer and accountant throw together all the details and workings of my business portfolio and went to my meeting with a business advisor.

Got there and she was only young so ask her age and she was only 23 so I thought great, straight out of uni but still might throw me some good advice. Has she been to uni? Nope she is a cashier who had just finished an internal business course frown

I asked to see someone else and there wasnt anyone available, they asked me what I expected and it seems its too much to expect to expect someone who has worked with a number of businesses and helped them do bigger and better things or someone who has run businesses themselves and has first hand experience. A 2 bit course is more than enough to help us through hard times, I can only imagine what experienced entrepreneur's are thinking when taking up this service.

Stay well clear folks, you can pick up better in generic books and its a lot cheaper.

Carsie

944 posts

235 months

Wednesday 29th April 2009
quotequote all
Ummmmm.... very frustrating I guess Lee. The great thing about PH is the depth and breadth of experience in here. I run a Bus Mngt Practice and like all the guys (gals) on here am always glad to help out,there's plenty of free, real world advice for you. If you have more commercially sensitive issues then drop me a line off Forum if you want smile

JustinP1

13,364 posts

261 months

Wednesday 29th April 2009
quotequote all
You paid your bank for business advice?

No wait, you paid RBS for business advice!?


IMHO banks are the last places to go. The last specialist business contact I had to explain the difference between profit and turnover to, so she could type the numbers in her computer right...

Tyre Smoke

23,018 posts

292 months

Wednesday 29th April 2009
quotequote all
As I pointed out to my Natwest Business Manager, I made substantially more profit than you last year, so your advice on running my business is not really very helpful. smile

richardxjr

7,561 posts

241 months

Wednesday 29th April 2009
quotequote all
TBH your accountant should have at least warned you this would likely be a waste of money.

PetrolTed

34,468 posts

334 months

Wednesday 29th April 2009
quotequote all
I spoke on the phone to a chap in the new business accounts dept last week. "'ello mate" he greeted me... rolleyes

Damn shoddy what.

LeeThePeople

Original Poster:

1,302 posts

214 months

Wednesday 29th April 2009
quotequote all
Someone has to pay Sir Fred Goodwin's pension, so why not me? biggrin

The Natwest have always been good to me, always given me good advice and help along the way, there IFA found me twice the base rate savings and when I was at uni they gave me a letter of credit which started me off. Its always been good so I thought this was a no brainer. Lesson learned really.

Carsie, what are your fees like? what experience etc? I dont want my affairs on here because I dont want people knowing my worth and what I own so could you email me and we can see if we can sort something out?

Jasper Gilder

2,166 posts

304 months

Wednesday 29th April 2009
quotequote all
Lee - If you want really good advice contact your local Business Link - I think yours is Business Link North West and book a meeting from a Business Adviser.

First off this is free!, Second - these guys are usually ex business people with a wealth of experience who can really help you as well as signpost you to other more specialist support you might need.

I had the pleasure of training many of the Business Link advisers from Business Link East last year and they are a really professional bunch who'll do you a good job. As you've prepaid via your tax it can't do any harm!

siscar

6,887 posts

248 months

Thursday 30th April 2009
quotequote all
Jasper Gilder said:
Lee - If you want really good advice contact your local Business Link - I think yours is Business Link North West and book a meeting from a Business Adviser.

First off this is free!, Second - these guys are usually ex business people with a wealth of experience who can really help you as well as signpost you to other more specialist support you might need.

I had the pleasure of training many of the Business Link advisers from Business Link East last year and they are a really professional bunch who'll do you a good job. As you've prepaid via your tax it can't do any harm!
yikes Business Link? Professional? My experience of them is that they are a complete waste of time mainly of the type who have failed in business so now tell others how to do it.

My experience is that there is very little outside advice that is useful, accountants and solicitors for professional advice - but even then sanity check it and try and understand what they are saying, don't just take their advice.

flyingjase

3,095 posts

262 months

Thursday 30th April 2009
quotequote all
siscar said:
Jasper Gilder said:
Lee - If you want really good advice contact your local Business Link - I think yours is Business Link North West and book a meeting from a Business Adviser.

First off this is free!, Second - these guys are usually ex business people with a wealth of experience who can really help you as well as signpost you to other more specialist support you might need.

I had the pleasure of training many of the Business Link advisers from Business Link East last year and they are a really professional bunch who'll do you a good job. As you've prepaid via your tax it can't do any harm!
yikes Business Link? Professional? My experience of them is that they are a complete waste of time mainly of the type who have failed in business so now tell others how to do it.

My experience is that there is very little outside advice that is useful, accountants and solicitors for professional advice - but even then sanity check it and try and understand what they are saying, don't just take their advice.
I agree completely with siscar - my experience of Business Link is not a positive one. Usually the 'advisors' have never run their own business or if they have, they have failed. If you do contact them then just do your due dilligence on whoever they tee you up with.

Alternatively, why not sign up for LinkedIn and join the groups relevent to your business, you will find lots of rich information abd other people you can bounce off

Jasper Gilder

2,166 posts

304 months

Thursday 30th April 2009
quotequote all
I think that's a bit unfair on Business Link advisers - maybe they are more carefully selected in the East, but most have sold their businesses and are doing the job because they want to put something back - Obviously we can all only speak as we find and it's a shame that some of you have dealt with poor ones