When considering whether to ‘take a risk’ on your business and fund it, a bank or financier will usually focus on three S’s:
The infographic below sets out 7 factors which contribute to your ‘surety’ in the eyes of a bank or other financier:
Communication key to surety
A key contributor to your ‘surety’ is the information you as a business owner provide to your lender or investor.
Your financier doesn’t want to see you fail, but they can’t impact the business like you can because they’re on the outside. They only know if you tell them.
Partnering with your bank
We have produced a number of free resources to help our readers and clients manage key business relationships, including relationships with bankers and financiers:
If you would like advice about managing these critical relationships, or you feel you may not be getting the most out of your dealings with your bank, contact the team at JPAbusiness on 02 6360 0360 (Orange) or 02 9893 1803 (Parramatta) for a confidential, initial discussion.
James Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.