Bank of America Small Businesses Lifeline
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27 September 2010 | posted by: Richard Forbes | No Comment
The bank of America has started changing the real economy movers, small businesses, by being their lifeline through increase of support to diverse, medium-sized and small business through demand. This is a need more basic more than seeking credit, but demand for the existing services and products. BOA realized this after the National Federation of Independent Business Survey suggested that owners of small business were citing weak and meager sales as the first major concern of their business, while about 4 percent only had credit facilities as the top concern. BOA: Making Medium and Small Business Ideas Come True This has made Bank of America to announce recently that it was going to spend about 10 billion dollars with diverse, medium-sized and small suppliers in a period of five years. Up to 2014, the banks expect its spending with these small companies at least to grow by 5 percent. One of the small businesses that represent the essence of Bank of America commitment to support small, medium sized and diverse business is Connex, a company the bank uses to reach a big audience through conference calls. The company has offered conferencing events close to 20 years, offering shareholder, earnings announcement, web services, media and analyst conferences among other services. Supplier and Development head of the Bank of America see the potential in small businesses, stating that, in the case of Connex, it brings “innovative and unique solutions to the table” enabling the bank to adapt to a novel technology while putting it into the best use. Connex is a woman owned small business company, a major example of the potential that lies within small and medium sized business, in the lines of capital investment, job creation, and opportunities for trade. Image Credit: |
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