It's estimated that there are 4.5 million businesses in Britain, of which 90% are small to medium-sized enterprises (SMEs) with no more than 49 employees.
In and around the East and West Midlands, small businesses are big business simply because they generate an immense amount of wealth for the region.
It is essential, therefore, that Midlands-based entrepreneurs and established business owners have easy and convenient access to the financial resources and expertise they need to be successful.
Here at the West Brom, we have those resources and skills.
Here to serve everyone
As our name suggests, the West Brom’s roots are firmly in The Midlands and as the conurbation has evolved, so we have evolved with it. Our location in the heart of the UK and the markets we serve, are of great relevance to local business people. This part of the world is one of the most ethnically diverse outside of London and because of that, many of the people who work at the West Brom have grown up in very different environments.
Doing business with an organisation which has the necessary cultural knowledge and insights, helps eliminate misunderstandings and substantially improves communication. In other words, when you want us to do something for you, you’ll get it done correctly and quickly.
A local building society with a finger on the local business pulse
The majority of our 600,000+ customers live and work in and around Birmingham and the Black Country. Unlike other major financial institutions, we believe that maintaining a high street presence helps us to keep in touch with, and better meet, the needs of our customers. Through our network of 46 branches, our dedicated teams transact with many local business owners – both start ups and successful going concerns - every day of the week. Not only do we understand local markets and the day-to-day realities and needs of people who run businesses across the Midlands, we also provide our customers with a local point of contact and support. Try getting a similar on-the-spot, on-demand style of service elsewhere!
More choice for your business
Although no two businesses are exactly the same, experience shows they have very similar requirements when it comes to financial products. Top of the list in that respect being choice and value for money. Generally speaking, we can offer small businesses more options than our competitors, simply because we select sources of finance and advice according to our clients’ specific requirements.
Say for example you needed a commercial mortgage; you may find that your current source is only able to offer you their own product, which may be less than ideal. That doesn’t happen at the West Brom: we work with a range of lenders so you can expect us to find the best solution possible for you.
We can also help with setting up insurances and arrange tangible and worthwhile financial benefits for your employees in the form of concessionary mortgage and savings arrangements.
Your business is an asset that you have worked hard to create and one hopefully that will play an important role in your retirement plans. When that moment arrives, we’ll be there to provide you with specialist, tailor-made advice to help protect and preserve the value and wealth you’ve built up in your business over the years.