What's ahead for small businesses in 2019?

Often, we read and see doom and gloom Business forecasts in the media. Fortunately we have great exposure to the market and funders, especially when working with our small business clients securing finance.

Without doubt there have been some significant changes within the Finance sector since the Financial Services Royal Commission - predominately within the Consumer market - however changes have also filtered through to Commercial/Business Lending. Now more than ever it is imperative for Small Business owners to be on top of their Financial position and have an understanding of how these changes may impact their plans for future business growth.
 
In 2018 we saw a significant increase in Finance options within the non-bank Unsecured Lending market. This is certainly a big positive for the Small Business Owner, as access to funding is critical for any business.
 
Overall the outlook from customers for 2019 is positive, with growth in various Commercial sectors in 2018.
 
In our view, the most critical tasks for small business owners in 2019 are the below:

• Business planning & forecasting with regular reviews
• Regular reviews of operational costs 
• Support – surrounding yourself with the right professional support people
• Understanding your credit position

 
We wish all Business Owners a prosperous and successful 2019! Our friendly  Bizpal Team are here to help with over 30 funding solutions.

P: 1800 011 981