Small and growing businesses are an important part of Australia’s economy. Entrepreneurial efforts, opening and growing companies, are the lifeblood of our domestic growth. And small businesses, in time and nurtured the right way, can become the large businesses that increase Australia’s standing in the global economy. Australia’s multinational companies – like BHP Billiton, Rio Tinto, and Brambles – might be the names on the lips of the international business community, but it is small businesses – employing 5 million Australians – that will drive this country’s success over the coming difficult years.
Perhaps this is why Federal Treasurer Wayne Swan listens intently to local shop owners when developing governmental policy for small business. The owners and employees of these businesses know what is important to them. They understand their business better than anyone else, and they have a vested interest in its success both now and in the future.
Mr. Swan’s philosophy is in stark contrast to the way that many big banks treat the small business owner. The Federal Treasurer takes the views and comments of small businesses, and formulates national policy that will benefit this important sector of our economy. It appears that, despite the fact that he cannot claim to ‘know’ those owners that he talks to, he does make efforts to know and understand their concerns and then act upon them. Increasingly these days, the big banks, available on all high streets, appear further and further detached from the businesses and their owners of whom they should have in depth knowledge. Explaining the concerns and hopes, the difficulties and potential, of a growing business to a local bank business manager, often falls on deaf ears. Perhaps this is why small and medium businesses are turning to smaller niche finance houses for their needs.
Small businesses need nurturing and unfortunately the big banks appear no longer in a position to do this. At a time when a small business needs the support and financial backing of the big banks they have (despite their advertising messages) appear in so many instances to closed their doors and turned their backs on the very businesses that are helping to grow the Australian economy. It’s important your financier understands the vital importance of not only supporting your growing small businesses but takes the time to find the financing solution that is best for you and your business unique situation.
Finance Professionals are more approachable. We feel a part of the community in which we serve, and take the time to get to know and understand our clients’ businesses. In this regard it is easy to see why we spend so much time listening to their clients’ needs, and then researching and finding the best possible solution for them. Success breeds success, and its success comes from helping its clients to be successful.