Greg Pell Welcome
Welcome to the November edition of Broker News!
We are currently living through very tumultuous times full of uncertainty. Every day we’re reminded about the global financial markets crisis and what Governments and Central Banks around the world are doing to restore economic stability. Against this background, we will endeavour to keep you updated on the latest news in the market and provide you with the skills to leverage this troubled economic environment and property market to your advantage.
The focus of this edition is on helping you to better manage your business. We offer tips to ensure effective cash flow management and smoother business operation. We look at how to manage the major cash points including sales, stock and debtors and how these are inter-related. In this current turbulent financial environment, cash is king and managing the cash flow cycle effectively will place you in a stronger position to face future challenges expected in the year to come.
The feature article written by Bill Evans, Westpac’s Chief Economist, reviews the RBA’s efforts to control the economy through Monetary policy. Of note are the September and the very recent October movement in the Official Cash Rate. Bill’s article explains how this new rate will position Australia’s economy over the short and long term.
We are also proud to introduce Westpac’s Self Managed Super Fund (SMSF) lending. Westpac is one the first of the major retail banks to enable SMSFs to borrow to invest in property. The offer is in line with the recent legislative changes that have relaxed the borrowing restrictions for superannuation funds.
On a final note, the Westpac Accelerator Program has been successfully completed. The Accelerator Program was an incentive campaign designed to reward our Business and Equipment Finance Introducers for their ongoing commitment with Westpac. Equipment Finance Introducers were rewarded based on total Net Assets Funded ($NAF) settled during the campaign period, while Business Introducers were rewarded based on the total dollar value of deals drawn down. Congratulations to all winners of the RedBalloon Gift certificates. I hope that you thoroughly enjoyed your experiences with RedBalloon Days. And a big congratulations to the lucky winner of the draw for the BMW120d, Daniel Phan from Empower Finance Pty Ltd!
I trust you will enjoy this edition of Broker News along with the warmer weather and summer months to come.
Kind regards,
Greg Pell
General Manager, Third Party Distribution, Business & Equipment Finance
Other Business Finance News articles:
- Reserve Bank's Bold Move will not be the last
- Controlling your cash flow
- Westpac launches SMSF lending