Business, Equipment & Home Finance for SMEs
Banks pay Commercial Finance Brokers an upfront commission and, in most cases, trail for business they introduce. In the main, the relationship between Commercial Finance Brokers and Bankers works well - however, occasionally because there is an acquisition cost involved, this relationship can be tested. Most often this comes about because of: A lack of [...]
One question we are often asked by clients is why does the Bank want security when I am seeking finance for my business? Just as we insure our cars, (even though we do not intend to have an accident), Banks’ seek security as a form of insurance for their loan. The security provides a fall-back [...]
Over recent months, we have seen more businesses starting to look at Debt Restructuring as a way to: More efficiently use their assets Free up cashflow Correctly align debt to purpose/assets Consolidate borrowings Obtain improved pricing and/or conditions Debt Restructuring - Why Does it Become Necessary? Debt Restructuring becomes necessary because business is dynamic. As [...]
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 [...]
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 [...]
