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NatWest has issued a warning to customers over the "biggest threat". The bank says a l ack of sales and marketing skills is the biggest threat to startup success, according to a new report. A lack of confidence in sales and marketing is the biggest hurdle for aspiring entrepreneurs in the UK, preventing many from launching their dream businesses, according to the Start Gap Report. The research, covering 1,000 aspiring business owners in the UK, shows that other missing skills include creating a comprehensive business plan, taking calculated risks, and staying motivated (all 11%). READ MORE SUV drivers face new 'premium' to park their cars in part of UK Cath Broadhead, co-founder of The Promise Co. farm, emphasises a practical approach to sales and marketing: “Early on, I attended every free course I could find, met different people, and learned how they approached things. "But when you say “sales and marketing”, you can overthink it, imagining complex corporate strategies. But actually, we all know what it is because we're constantly being sold to and marketed to.” Michelle Prance, CEO Mettle by NatWest commented: “The Start Gap Report clearly demonstrates the need for accessible training and resources in areas like sales and marketing for new entrepreneurs. "At NatWest we've helped more businesses get started than any other bank in Great Britain*, so we understand the challenges new business owners face. "Our Accelerator community is designed to provide business owners with the network, skills and confidence they need to succeed in this area. "We encourage aspiring entrepreneurs to take advantage of the resources available to them, such as NatWest’s Accelerator app.” For start-ups, NatWest offers straightforward, accessible banking solutions designed to simplify launching and running a new business. The bank is rivalled by Santander, HSBC UK, Nationwide, Lloyds Banking Group and more. Its help includes easy account opening, cost-effective banking, and expert guidance to empower entrepreneurs to take confident first steps.
