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Tim's Fly Fishing Blog


  1. Opening Weekend 2010 Tim Wood (Partner) 06-Oct-2010

 

Business Finance

-Whats happening & Will You Get Finance ?

 

OCR

Dr Bollards announcement of the official cash rate (OCR) on 16th September came as no surprise. It had been well mooted coming up to the announcement that the OCR would remain unchanged at 3%. What did come as more of a surprise was the tone of his message around where he saw the OCR’s movements in the near future. Some could argue that he had made a complete U-turn on earlier comments he had made. It was only at the July (29th) OCR announcement that it was indicated for the foreseeable future the OCR would rise .25% every 3 out of 4 announcements until the OCR reached a level of around 5.75% - 6.25% where it would stop for a period of time before slowly dropping away again. Now it appears the OCR will not rise again this year (with two announcements left this year: 28th October & 9 December), and will only slowly rise throughout next year stopping at a high point of around 4.5% - 4.75% in the middle of 2012.
The reasons given for this change in forecasting was mainly put down to two things
1) A slower than expected improvement in the world’s economy.
2) A slower underlying improvement of the New Zealand export lead recovery.

 

Business finance

has been on the improve for almost a year now. By the end of 2009 we started to see the taps slowly turned on after 18 months of them being firmly shut off. The momentum started with increases in overdrafts and acceptances of top-ups, and then gained further ground with residential purchases off full financials, and has now come almost full circle with finance being found to purchase of existing businesses or to start capital up new ventures. Levels of ‘easy’ money are some way off the crazy days of 2007 and early 2008, but in the same breath are far removed from the dark days of late 2008 and 2009. Now if a deal stacks up it has a good chance of being approved whereas 18 months ago it could have been the deal of the century and declined before it was even looked at.

Comment by Scott Miller 24th Setember, 2010

To talk with Scott further about Home or Business Finance click here
Scott also provides Property  Portfolio Reports for bank reporting

What are the Banks requiring to be your Finance Business Partner?

Recently we have seen a huge increase in banks requiring proper forecasting budgets and cash flows. The reason, very simply, with recession, comes insolvencies. Banks are very wary of just looking at the past figures as they have in the past in more buoyant times. They now want to see a demonstration by management that the business has sound forecasting. The banks are tracking results quarterly to ensure the correct KPI's are met and that as an business you are performing as per forecasts. This makes commercial sense and businesses should be doing this anyway. No point in completing budgets and not monitoring the results on a monthly basis. Strategically monitoring the results monthly allows businesses to isolate which levers need correcting in your business. In talking with owners the most common reason for not doing this is that they don't no how to translate the figures into english and actually understand what picture the figures are telling. Monthly results and tracking can tell you crucial data with regards stock management, margins, danger business areas, staff productivity, marketing, cash flow, debtor issues. If you don't have this information, its like flying a plane without a dashboard, bloody hard to do it in the dark regardless of how good a pilot you are !.

If you need help or would like more information on one of the following, please contact one of our accounting team:

  • Bank Cash Flow & Forecasting
  • Business Budgeting and Monthly Reporting
  • Translating the Accounting Dashboard in to real business results
  • Property Portfolio Reports -Cash flow & Equity Analysis & Forecasting
Comment by Tim Wood, Platinum Brands -Business Partners & Joint Venture Consultants- 24th Setember, 2010

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