EOFY – Review your strategies

END OF FINANCIAL YEAR IS APPROACHING: A GREAT TIME TO REVIEW STRATEGIES FOR YOUR BUSINESS

We are now into the last quarter of the financial year, an important time for business owners to review their current needs and plan for not only ‘tax time’, but also consider their needs over the next 6 to 12 months.

Planning for the Future

We also understand that not all capital expenditure needs are immediate. For example, businesses often plan 12 months out for upgrades, or a new contract may not commence until later in the year.

Working with a commercial finance broker can help you plan for the future, providing valuable support in structuring and establishing your finance facilities.

Our Commercial Finance Brokers are well placed to review options available in the market across a range of lenders. This can include purely refinancing and does not necessarily mean you need to be borrowing additional funds.

Having a trusted Commercial Finance Broker working with your business is vital.  They can review your circumstances and help navigate the myriad of lender policies and options on offer, which can include:

• Refinance assessment based on account conduct
• Refinance or ‘switching’ costs (e.g. valuation) met by the lender
• Assessment of debt servicing based on rent income alone and / or limited financial information.

Areas that we can assist with include:

• Establishing pre-approvals or limits to assist with future equipment finance needs
• Incorporating seasonal programs to align repayments with your business cash flows
• Working capital facilities including: traditional overdraft facilities, Debtor Finance, and Trade Finance
• Establishing debt facilities for business purchase and expansion.

Investing time in making these plans now will allow your business to respond quickly when planned expenditure is required, and assist in taking advantage of a new opportunity when it arises.

It is important to make these decision in consultation with your professional advisers in both tax and finance. Our experienced commercial finance brokers have the experience and ability to support your business with access to a comprehensive panel of lenders using a wide range of financial products.

Knowledge is power, so start the conversation today and let us help you understand what your options may be.