Bank of America Pledges to Support Small Business

Discussion in 'Growing and Managing a Business' started by Fergal, Jun 4, 2010.

  1. Fergal

    Fergal
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    Bank of America is the largest US bank and they have promised to support small and medium sized, independently owned businesses. Bank of America has announced that they will by alter their procurement strategies and spend $10 Billion more, purchasing from these smaller businesses over the next five years. Hopefully they will be true to their word and this will be a strong boost for small business.

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  2. Kay

    Kay
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    Great news! Bank of America would also fall into the category of the "too big to fail" banks that the financial analysts were saying the government couldn't afford to let go to the wall during the recession. So the business any small business gets from them is practically guaranteed, unlike with some of their smaller counterparts. If only more of the big companies would follow their lead!

    It's a smart move. Small businesses will return that loyalty and with many small local banks being closed here all the time now, BofA will be the first that springs to mind if the business owners are in the market for a new one. Pat on the back to BofA!
     
  3. Fergal

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    Fair play to you Kay, you are certainly versatile and open minded. It's unusual to see you being so positive and complimentary of big business :)
     

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