-
Megabanks continue to increase their share of personal trust and fiduciary assets, leaving most small banks on the margins of the business. But community banks could stage a comeback by focusing on quality service and the slightly less-rich.
October 31 -
This American Banker special report digs deep into a topic of critical importance to the banking industry, as well as the country at large. We shed light on the steps banks are taking to make it easier for small business borrowers get loans, what's happening with the competition and why access to credit is so much tougher for African-American entrepreneurs.
February 16
Wells Fargo has launched a tool that helps small business owners create and update business plans.
A recent survey found that just 33% of small businesses have a formal business plan.
"Every business big or small needs a plan. We know from research and our direct experience working with business owners that a formal, written business plan is the foundation for long-term financial success," said Lisa Stevens, Wells Fargo's head of small business. "Many business owners have business plans in their heads. We want to help every business owner put a plan in writing, if they don't have one already, so they have a guide to organize their goals, improve decision-making and focus on activities that will help their business thrive."
Wells Fargo Works for Small Business is an initiative that aims to deliver guidance and support for small businesses through resources and services.
The launch comes shortly after Wells released results from its January
Results showed that expectations for the year ahead were significantly higher for those that have a formal business plan. Further, businesses in the same set indicated they are more likely than those without a business place to expect to apply for new credit, grow their revenue, increase job creation and raise capital spending over the next 12 months.
