Lloyds TSB urges pharmacists to expand

BANKERS have urged pharmacists in Birmingham to take advantage of impending market changes to boost their businesses.

Lloyds TSB Commercial said with major changes expected for the pharmacy sector and the role it plays in a future NHS following the Government’s Spending Review, 2011 was likely to bring plenty of scope for expansion.

Therefore pharmacists needed to be revisiting their business plans now, said the bank.

It made its plea when its Healthcare Banking team presented to more than 50 businesses at the AGM of the Birmingham Local Pharmaceutical Committee. In doing so, it called for pharmacists across the West Midlands to utilise the funding and support available to enable them to capitalise on opportunities for growth.

The Healthcare Banking team work with pharmaceutical companies to understand how they can exploit market changes and minimise threats to their business. Funding packages are also tailored to meet the specific demands of a business.

Darren Billinge, healthcare relationship manager for Lloyds TSB Commercial, said: “Now more than ever, it is crucial for businesses to have a close relationship with their banking partner so that their particular needs are understood.

“At Lloyds TSB Commercial there is a network of locally based Healthcare Banking specialists who are fully absorbed in the sector and so understand the specific challenges facing the industry.

“Businesses in the healthcare sector should take advantage of the expert guidance available so that they are in the strongest possible position to react to changes in legislation and possible budget cuts due to the Government’s Spending Review.”

The presentation was part of an ongoing programme of support for businesses in the healthcare industry from Lloyds TSB Commercial.