Business, Equipment & Home Finance for SMEs
There has been a lot of speculation flowing from the Banking Royal Commission about Finance Broker commissions and in particular whether trail commission should continue to be paid. However, this misunderstands the role of a Finance Broker and what they bring to the table for their clients and indeed, the Banks! Finance Broker Myth No. [...]
The past year for the finance industry has been one of massive change and turbulence, being driven by the revelations of the Banking Royal Commission and other Enquiries. Banks and Brokers alike have been rightly exposed to searing criticism. At its core has been self-interest! Putting sales and profit ahead of the interests of the [...]
No business can survive long term if it does not deliver good customer outcomes! The key word here is outcomes – every business does, or should be, looking to deliver good outcomes its customers. When the focus becomes anything else, selling a product or service, making money it all starts to fall apart! An internal [...]
The team at The 500 Group, would like to extend our best wishes to our clients, suppliers and financiers for an amazing Festive Season and a prosperous 2019! With another year coming to a close it is important to reflect on: What has been achieved The challenges overcome The lessons learned Certainly 2018 has been [...]
With wages plateauing, it can be hard to find the extra cash to pay off your home loan faster! With interest rates at record low levels, it is important to explore ways to pay off your home loan faster. Why it is important to pay off your Home Loan faster One major reason for paying [...]
Pocketbook is a free App developed in Australia that people can use to understand and monitor their spending patterns. Recently, we have outlined how Banks look at applicants’ monthly expenditure in granular detail, when assessing home loan affordability. They do this by going through your Bank and Credit Card Statements. Banks now also load the [...]
In finance a good customer outcome is not necessarily always borrowing more or indeed reducing amortisation. Often a good customer outcome and the right thing is to reduce debt through amortisation. Good Customer Outcome - Poor Structure not a Lack of Intent! In our experience many business owners would like to reduce their debt! However, [...]
In an environment where there has been a lot of negative press, it is easy to lose sight of the good customer outcomes most brokers achieve on behalf of their clients! The value and balance brokers bring to the bank - client relationship. For many clients, a key frustration as their business grows and evolves, is [...]
The 500 Group are delighted to be donating to the “It’s in the Bag” Christmas Charity campaign, being coordinated by the Share with Dignity Charity. Established in 2015 by Rochelle Courtenay, the Charity supports women and girls experiencing poverty and domestic violence by distributing very much needed products. You can learn more about it here: [...]
A key to success is a clear Business Vision - knowing in advance the type of business you are trying to create. This is about being able to visualise, & importantly document, what your business will be like in granular detail – when it is operating precisely how you want it. A Business Vision is [...]
