Natwest and RBS Supports Surge In Start-Up Businesses Despite Economic Downturn

• New Start-up Hotline launched to help more businesses get off the ground

• NatWest and RBS see 9% growth in start-ups in London in the past twelve months

As Britain looks to trade its way out of the downturn, NatWest and RBS are witnessing encouraging growth in customers starting up new businesses. Since offering initiatives such as 2 years free banking, the banks have helped over 100,000 new businesses across the UK enter the market in the past twelve months. In London they have opened over 18,200 new business start-up accounts To build on this success, both banks are launching a free Hotline service to help more businesses successfully launch.

NatWest and RBS are currently opening more than 2,000 start-up accounts per week, with leisure (+37%), IT (+33%) and education (+32%) being the most popular growth sectors. In London the most popular sectors are professional services and retail trade and repair which account for 26% and 12% respectively of the new accounts opened by the bank across the region.

Most recently, NatWest has supported a customer in the catering trade, The Passionate Chef Limited, with start-up costs to purchase a van and catering equipment.  Sam Rosenheim, Director of the company, turned to NatWest for support and advice and is now successfully catering for private dinner parties in the home for London residents and is fully booked until January 2011.

John Fagan, Regional Director, branch business banking, London, said: “This is precisely what NatWest and RBS are here for – working hard every day supporting our customers and in turn the recovery of the economy. These figures tell us that confidence is there and entrepreneurs are seizing opportunities despite tough market conditions. It’s important we build on this momentum and give more new businesses the best possible start with initiatives like our new Start-ups Hotline.” 

The new NatWest and RBS Start-ups Hotline provides access to a specialist team, experienced in converting business ideas into a reality. The Hotline offers a free Business Plan Review service, allowing budding entrepreneurs to road-test their ideas direct with the bank’s most experienced advisors. The team offer free practical advice on key issues facing any new business, such as business planning and access to online support.

NatWest and RBS Start-ups Hotline tel: 0800 656 9635