14 Jan Borrower, Bank & Broker: The Winning Formula
The headline by an article published by the MPA (11th Jan 2018) announced that “Brokers take credit for plummeting business interest rates”.
“According to the RBA, brokers have played an important role in reducing interest and saving small businesses money”.
“In a submission to the Productivity Commission’s ongoing Inquiry into Competition in the Australian Financial System, the RBA noted that increased use of brokers has lowered the search costs and increased price competition in some segments of the small business loans market.”
With around $747 billion in outstanding loans to LARGE businesses, this outcome generates a significant savings to Australian business and profitability which can be used for reinvestment or debt reduction.
Farmers are Grinners
According to the published article, “IBIS World has predicted the top five growth industries. Second place is “the huge diary cattle farming sector which will grow by 8%, providing opportunities to rural brokers such as multi-award-winning Robinson Sewell Partners…”.