Banks can get a lot of bad press, but they often go out of their way to help their customers and entrepreneurs who need it most through sponsorship and investment schemes.
Times are tough for many across the world and there is a lot of the negativity around that has led to ill feeling towards banks. While this is understandable for those in difficult personal situations, it’s important not to overlook some of the more positive things banks do for all sorts of people and organisations.
For instance, many banks sponsor important events and causes that bring joy to people across the world. Crucially they also generate extra money for the economy as a whole. From prominent sports tournaments to business awards and charity functions, many events wouldn’t be able to take place without sponsorship from financial institutions.
On top of that they do a lot to help people with good business ideas to turn their plans into reality. Sure, there’s a case to be made that banks have a vested interest in people choosing to take loans out through their own offerings, but they’ll only lend money to those they believe should be going down this route and can make a success of their business. Many banks offer support plans above and beyond their initial loan as well, giving businessmen and women with great ideas every chance to make their businesses a success.
Plus they sometimes even go above and beyond that for entrepreneurs – a case in point is that of Carrie Green, who recently won the Coutts sponsored Change Maker competition at the MADE Entrepreneur Festival. Not only did the win provide Carrie’s business ventures with a whole new audience she’d have struggled to reach on her own. She also won a one-to-one mentoring session with Lord Bilimoria, the founder and Chairman of Cobra Beer. In addition to this, all of the Change Makers showcased as part of the competition got to benefit from exclusive workshops with industry experts and some of the most established entrepreneurs in the country, hopefully helping to drive business in the UK for years to come.
The arts are another sector that benefit from bank support, with the likes of London’s Almeida Theatre having received help in its quest to thrive by Coutts as well. The bank worked directly with prominent directors there and donated sponsorship money to individual shows.
Many banks also offer their own investment services. This option is for those who want to invest their money wisely and grow their savings but who lack knowledge about the world of investments and wealth management. Again, there are benefits of providing this service to a bank, but at the same time the way they go out of their way to guide people in the right direction and grow their personal wealth can’t be dismissed.
For all the frustrations associated with finance after the credit crunch, we have to make sure that we don’t forget that banks do plenty of good too, often going the extra mile for individuals, charities and businesses every single day.