Tuesday, July 18, 2006

Banking By the Numbers

According to the Wall Street Journal's "By the Numbers" column, the most important factor to small businesses in selecting a bank is location. One of the reasons cited is that smaller businesses have a lot of cash deposits to make so proximity is an advantage. With changes in technology enabling businesses to deposit checks from their own offices, one might assume this factor will become of lesser importance over time.

The third most important factor was being "a reliable source of credit" followed by "speed of decisions". I'm curious at to whether this will change with the growing risk to the economy created by higher fuel bills and higher interest rates.

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