Research carried out by the Alliance and Leicester has found that around 38 percent of small business organisations are run by the owner with the support of their partner.
Partners can be found in a variety of roles around the business, especially administration and operations. This enables them to have an overall understanding of the business whilst being fully supportive of their managing partner. The Alliance and Leicester research also revealed that around 35 percent of couples share the decisions on finance in the business.
An Alliance and Leicester spokesman felt that this approach to business showed how committed both partners were to making their organisation successful. He felt that this approach enabled them to share some of the stresses, making them easier to deal with, and also the highs, bringing a sense of achievement for both of them.
Michael Klein, reported recently to be leaving Citigroup, of which Citibank is a part, is set to receive one of the largest payouts in the industry for a departing executive since the credit crunch started.
It is understood that Mr Klein will receive a settlement package from Citibank worth over USD42 million, made up of stocks and cash, with the proviso that he does not join a rival organisation before next October. The amount may cause consternation for the company since it sits uncomfortably with the position of banks and financial institutions saying they are struggling.
Citibank has seen many changes in recent months, with a new management structure now in place to try and steer the business back into profitability and financial stability following heavy losses on the back of the US sub-prime lending collapse.
It has been suggested by the Alliance and Leicester that small business owners can make their lives easier by carefully selecting the best bank to suit them, rather than just going for the nearest or most advertised.
The Alliance and Leicester head of Business Banking has said that choosing the right deal on a business bank account can make a real difference in the day to day running of the organisation. More money can be earned in interest, there can be easier access to funds and good communications can ease stress levels.
With these points in mind it may come as no surprise to hear that the Alliance and Leicester has been named as the current account provider of the year for business banking, an award it has now received for the last 6 years.
