Banks Fuel the Growth of Regional Economies Winston Rowe and Associates
The success of banks largely depends on the economic strengths of the communities where they operate.
By: Winston Rowe and Associates
While banks have historically played an essential role in economic growth through their core operations, they tend to do so one business at a time.
This focus on the needs of discrete business clients creates a blind spot—banks all too often miss the broader regional or industry dynamics that affect the success of all their clients.
By moving beyond individual transactions to financing and strengthening entire ecosystems of players within an industry or community, banks can boost regional economic growth as well as their own business.
Global development actors know well the importance of industry cluster and supply chain financing to large-scale economic development, and some leading banks are starting to catch on.
In such industry-based economies, cash flow challenges and limited access to capital for any one actor can create a bottleneck for the whole cluster.
As a result, addressing that one need can unlock exponential growth.
Banks cluster and supply chain financing can represent a powerful means of supporting the success of their largest corporate clients.
Many corporations are increasingly looking to create shared value themselves by enhancing the productivity of suppliers or developing innovative new delivery channels. To do so, they require bankers that understand and can finance these complex, multifaceted efforts.
In addition to strengthening industry supply chains and clusters, banks can also find business opportunities in revitalizing local economies.
Published by Winston Rowe and Associates. They are a nationwide financier of commercial real estate and commercial loan workouts.
You can contact them at 248-246-2243 or visit them on line at http://www.winstonrowe.com