[ubuntu-uk] Lack of support for small business

[Grant Sewell]

On Fri, 18 Nov 2011 23:32:50 +0000
Gareth France wrote:

> Recently I decided to do my part by starting up a small business
> selling machines with Ubuntu pre-installed and  offering support. My
> bank have refused to offer me a business account at all 'because it's
> too risky to open an account for a company selling computers',
> apparently there's a high risk I will commit carousel fraud (whatever
> that is). Another bank are getting iffy about it because I'm involved
> in software (installing Ubuntu), I did attempt to explain that any
> company selling hardware is just as involved with software as I.
> 
> Is it just me or does the British economy not want small businesses to
> succeed?

Not long ago I spoke with a business banking advisor who said that even
the most reasonably likely to succeed start-ups are unlikely to get
better deals than 24% APR on a 50:50 loan - you put in £10k and they'll
put in £10k with a nice bonus of 24% APR interest to them.  He said
that I would be better off going to my existing banking provider and
getting a general purpose loan for "buying a bigger family car" (with a
wink and a smile) as the APR would most likely be lower and I wouldn't
have to contribute anything to the initial pot.

Daft!

Grant.