Business, Equipment & Home Finance for SMEs
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 [...]
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 [...]
At The The 500 Group Group, we learned that one of the most powerful actions a business can take is to clearly define its Business Purpose! That is, why does the business exist? What is its reason for being? From the customer perspective, the products or the services a business sells are simply a means [...]
Real time accounting offers many benefits for business owners! It is something we implemented at The 500 Group some 12 months ago and advocate to our clients. From a business perspective, real time accounting: Puts you in control Provides “real time” financial information to help you make more informed business decisions Saves time and significantly [...]
Often when seeking finance from a Bank, clients are asked to prepare a cashflow forecast. Whilst most business owners will rightly seek assistance of their Accountant or Bookkeeper to prepare the forecasts, it is important to understand the process involved and to have input into their preparation. Why you need to prepare a cashflow forecast [...]
With property prices rapidly increasing over the past few years, many people wonder whether it is still worth saving for a home deposit. For some, as property values outstrip wages growth, it can seem like an exercise in futility! Why bother! However even under such a scenario – we believe it is still possible to [...]
