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Glyn's a man on a business mission

From the Penarth Times, first published Thursday 21st Feb 2002.

WITH the economy looking tighter, businesses in the Vale of Glamorgan need to be able to focus their efforts on serving current clients and winning new customers. The last thing they need to worry about is getting paid on time.

Yet research from Lloyds TSB shows that problems with late payments remain a headache for many company owners. This is just one reason why 50 percent of small businesses fail in their first three years.

Glyn Morris, of Lloyds TSB, has recently been appointed as the new Business Focus Manager for small businesses in the Barry and Penarth area.

He said: "In most cases, small companies go out of business through lack of planning. It's as simple as that. We are dedicated to helping our clients succeed. By issuing expert advice, we aim to cut the number of failed businesses by half."

Originally from Barry, Glyn understands the strains on small businesses, and is there to offer a helping hand. He said: "In the last twelve months, Lloyds TSB has looked into what our business customers need, and we have adopted a new approach. Where we used to offer the choice of face-to-face or telephone service, our customers can come into our new business centre for advice and to use our resources."

The new resource centre was opened in the Queen Street branch of Lloyds TSB in October 2001. The first one in Wales, it offers customers a range of facilities to help their business run smoothly.

They have internet access, fax and photocopying services, and a conference room that can be booked out for meetings. Many of these are free of charge to their clients.

Glyn said: "Our dedicated centre is open to any of our customers who do not have the facilities to provide these services themselves. At the moment, it's experimental. All around the UK, approximately 200 centres have opened in different areas. Some have been built in towns, others in the city. We know parking can be a problem, but we opened ours here to be a central point for most of our clients."

Lloyds TSB offer their customers two different types of business manager. The Business Partner will go through plans with each client, to establish where they want to be personally and in their business over the next ten years. They understand that for small businesses, the two go hand in hand.

Glyn added: "The Business Partner will establish what success means to the individual. They act as a consultant, and look at all aspects of the individual's life and work commitments, not just the financial aspects.

From the information given to them, they form an action plan to suit the customer's agenda, rather than the bank's. In the last year, we have cut the number of clients each Business Partner has from roughly 400 to 70. They can now spend more time with each one to concentrate on making their venture a success."

A Business Focus Manager looks simply at the business. Glyn said: "My role is to look at the financial situation of the business. I offer advice on many aspects. Two that crop up very frequently are the need to attract new customers, and trying to get existing customers to pay their bills. I can put them in contact with other companies offering the products they need. I can also give them details of our products to help them manage their finances, enabling them to branch out. Again, we have cut the number of customers per manager. Although my duty is not as in-depth as the Business Partner, I now have about 200 customers instead of 400."

He added: "As a Focus Manager, I find myself giving advise on a range of problems. I have been in the banking business for 22 years, and in business banking for eight. I worked my way up after leaving school, and I have seen a diverse selection of businesses in my time. But the main problem they face is collecting debts. This has a major knock-on effect. But we have a checklist most businesses can put in place to help protect themselves as much as possible.

"Small businesses can find themselves at risk of failure if they do not establish a system for making sure they get paid on time. The prompt collection of outstanding bills can make all the difference being able to invest and expand with confidence, or being caught battling to survive in a vicious circle of debt."

For information on the services Lloyds TSB offers, contact your nearest branch, or call the Business Focus Centre on Cardiff 029 2038 2808.

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