Our very own Style Finance CEO, Bernadine Geary lead a recent panel discussion at the FBC at the Frankston Business Collective A.C.E Event, business leaders and finance experts converged to discuss the financial landscape, offering invaluable insights into the current economic climate and what lies ahead.
Joining the conversation were representatives from renowned companies, including Wayne Morris from FIFO Capital, Rebecca Evans from Judo Bank, Nihit Gupta from NAB, and Gabriela Ammendola from GA Industrial & Commercial discussing the topic: Market Trends & Innovative Finance Solutions for Your Business.
Photo credit: James Pyne Photography
Courtesy of: Frankston Business Collective
Bernadine shares her TOP FIVE KEY TAKEAWAYS that are bound to resonate with businesses and investors alike:
1. Caution Is Key
In a world marked by economic unpredictability, caution emerged as a recurring theme throughout the panel discussion. The general consensus was that navigating these uncertain times requires careful consideration and prudent financial planning. This sentiment underscores the importance of making well-informed decisions and avoiding impulsive financial moves.
2. Seek Expert Advice
The panel strongly advocated for seeking expert advice, particularly from accountants and finance brokers. These professionals bring invaluable insights into managing finances, making informed investment choices, and ensuring compliance with evolving regulations. Their guidance can be instrumental in steering your financial ship through choppy waters.
3. Budget and Plan Ahead
Panel members emphasized the significance of budgeting and planning for the next 6-12 months. Setting clear financial goals and crafting a strategic roadmap can help businesses and investors weather uncertainties and seize opportunities as they arise. A well-structured plan is your compass in turbulent financial seas.
4. Anticipate Interest Rate Changes
One of the notable takeaways was the discussion around interest rates. The panel forecasted another one to possibly two rate rises within the year or early next year, followed by a potential stabilization and drop toward the end of the following year. Being prepared for these fluctuations is crucial for those with loans or considering new investments.
5. Shift Towards Commercial & Industrial Properties
Gabriela Emmendola from GA Industrial & Commercial provided an intriguing perspective on the real estate market. She highlighted a notable shift towards investors purchasing commercial and industrial properties. This transition is attributed to the stability in rents for extended periods and the desire to avoid the changing landscape of the Residential Tenancy Act. Commercial properties offer a haven of predictability in an otherwise dynamic environment.
The Frankston Business Collective A.C.E Event panel discussion delivered a wealth of insights. In today’s uncertain financial climate, exercising caution, seeking professional guidance, budgeting and planning, and staying attuned to interest rate shifts are vital strategies for success. Additionally, the commercial and industrial property market presents an attractive alternative for investors looking for stability in a changing world. The event underlined the importance of adaptability and foresight in the face of financial challenges, making it an invaluable resource for businesses and investors navigating these uncharted waters. Bernadine was very proud to chair this panel and is already looking forward to the next one!
Stay tuned for more updates and expert insights from Style Finance Group.
