Business, Equipment & Home Finance for SMEs
The challenge of cashflow management is nothing new to most business owners! It is a reality they face every day! That said, a combination of: Low economic growth Tighter payment terms Customers paying slower Finance being more difficult to obtain and taking longer to access have all combined to make life even more challenging for [...]
Recently we have noticed an increasing number of business owners either entering ATO Payment Plans or considered it in consultation with their accountants. It could be coincidental; however, it would not be too far- fetched to assume it is in part due to the current economic conditions and tightening of access to credit from lenders. [...]
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 [...]
The 500 Group is delighted to announce we have been named as a Finalist in the Australian Broking Awards 2019 for Customer Service. The Australian Broking Awards are aimed at recognising excellence among the industries top brokers across the country. The Awards are run in partnership with the Commonwealth Bank and are the most sought-after [...]
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 [...]
It is now 6 weeks since the Banking Royal Commission Report was delivered to the Government. With all the emotion, media and public interest in the Commission findings, we decided to let the dust settle before providing our views. In the days and weeks following the announcement, the discussion was all about Brokers! Not the [...]
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 [...]
