JPAbusiness

More than a third of respondents to our recent survey indicated they plan to invest in new plant and equipment in 2018–19, with most of these investments driven by the need to adapt to new technology (61%) and meet replacement schedules (45%). Just over 16% indicated the planned investment was due to new contracts.

If you’re in this situation, you may need to seek finance from a bank or other lending institution. 

As highlighted in our eBook, Managing your banking relationship, there are many things you can do to influence your bank's 'appetite' for financing your business.

Topics: Banking, business advice, growth strategies, finance, seeking finance

A bank, financier or equity investor focuses on three S’s when considering their appetite for your business. They are:

• Servicing
• Security
• Surety.

None of these factors are completely controllable, but they are strongly influenced by your actions as a business owner.

Our cheat sheet can help you understand and manage these factors, to help create a strong and positive relationship with your bank or financier.

Topics: Advice, Banks and lending, Running your business, cheat sheet, Banking

A banker is not just a simple supplier to your business – they are a partner in your business.

In order to advance funds to your business, the bank must first assess a range of risks associated with your business. Based on that assessment, they then take a risk in advancing you dollars.

Yes, they take security for that risk, which usually ranks before your equity in the business, but ultimately their success in lending money is inextricably linked to your success as a business.

So treating them as anything other than a business partner is not doing the opportunity justice.

The following infographic sums up what you can do to give that partnership every chance of success.

Topics: Advice, Partners, Running your business, Banking, Business advisor, business management

Many business owners consider banks a necessary evil, but I don’t subscribe to that view.

Your banker or financier is a key partner in your business and, as with all successful partnerships, good communication is key.

The following cheat sheet contains some of our top tips for communicating with your bank and setting yourself up for a healthy partnership.

Topics: Business Value, Banks and lending, Banking, business advice, Business advisor, business partners

Many business owners, in small and large firms, don’t really focus on their balance sheet.

Topics: Advice, Banks and lending, Running your business, infographic, Banking