Standard bank is a global renowned financial and banking institution. With many years of experience in the world of business, this bank understands that small scale businesses are essential players in national and global economy. It is therefore essential that these small businesses are given a strong foundation and support to flourish.
Research has shown that a high percentage of new start-up businesses fail within the first three years. Other findings have also indicated that 440000 small businesses had failed in the past 5 years in South Africa. It is due to this background that Standard bank launched Bizlaunch.
Bizlaunch has been established to ensure businesses get started the right way and avoid false starts. Its also particularly aimed at new businesses. Bizlaunch is a one stop house that tries to take care of business matters such as registering the business, keeping track of cash in and cash out, pay suppliers, deposit funds into a business bank account and get some basic advise.
This service from Standard bank offers a R90 per month business account which includes unlimited electronic transactions, unlimited debit orders, unlimited cheque card swipes,internet banking, my updates and 8 ATM cash withdraws.This package also comes with my business online which is an accounting package from Pastel. Apart from a business banker whom you can discus needs with, there is also a packaged business support and tips such as how to start and grow a business.
Bizlaunch also offers a merchant device for R325 a month.This includes telecommunication fees and insurance per month, at a commission rate of 3.25% irrespective of card type. Basic business insurance cover at R150 per month, online business registration services and annual returns to help you to get your business started and a 20% discounted training voucher on the basics of how to start a business such as finance for non-financial managers.
This package from Standard bank offers practical solutions that are relevant to the market and tackle challenges entrepreneurs, especially start ups face.