Banks more dangerous to Small Business than coronavirus

In these uncertain times, there is one thing that is certain.
Small business owners cannot trust the banks

Ignore the Bank’s PR BS of “we are here to help”

Robert James and James Home Services: If you put your hand up as Hard ship Application expect the banks to fast track you into Recovery Centre.

The recovery centre is more like the morgue, no one cames out alive.

They will start the process of calling in loans, turning off overdrafts, calling in any assets they have security over.

The Banks will look after themselves, especially with the stockmarket in free fall.

Move your family home loan to a different bank than your business loans immediately, not a big four.

Sell your home it to a Family Trust if you can?

Company stuctures to protect the intellectual property of your business are vital.

Hedge your bets now.
Don’t put all your eggs into one basket.

Robert James and James Home Services: Banks profit through these tough times.
Australia’s banks made huge profits through the GFC

Things are getting tough?
DON”T tell your bank manager.
Keep a positive spin, play your cards close to your chest.

Don’t be naive.

The Banks and their Law Firms are sharks that will feast on the hardships of Family Businesses.

Small business owners need to be pragmatic to survive 2020

Originally Posted: http://www.robertjameshomeservices.com/banks-more-dangerous-to-small-business-than-coronavirus/