More than 70% of Australian SMEs prefer to keep their business with brokers and advisers who come to the table with actionable business suggestions and recommendations.

In addition, a third of SMEs want their advisors introduce them to contacts within their professional network, including potential suppliers and investors.

The headline findings are contained in the 10th anniversary edition of ScotPac’s SME Growth Index Report, Australia’s longest-running SME sentiment check. Other key related findings include:

  • 53% of SMEs want their brokers and advisers to provide specific advice relevant to their business, and 29% want specific advice relevant to their industry.
  • 44% of SMEs (including 52% of SMEs in a growth phase) expect brokers and advisers to be proactive and “do what they say they will”.
  • 22% of SMEs want their brokers and advisers to present them with a wider panel of lending options.

Just one in five SMEs nominated a retainer-based advisory package as a preferred option when it comes to engaging a broker or other professional adviser.

ScotPac CEO, Jon Sutton said the findings demonstrated that the best business development tool in a broker or adviser’s arsenal remains personalised service.

“The last few years have been a rollercoaster ride for Australian SMEs with surging inflation, 13 interest rate rises, and a raft of new awards and workplace laws adding to their compliance burden.

“Against this turbulent economic backdrop, it is understandable that business owners want brokers and advisers to offer dependable advice to help them manage their cashflow, maximise their working capital and simplify their lives.

“The message from SMEs is pretty clear – brokers and advisers who stay informed and share their expertise about new lending options and industry-relevant news will earn customer loyalty.”

Mr Sutton said brokers who want to deliver excellent service for existing customers and generate new business leads should register for ScotPac’s Partner Portal.

“Our Partner Portal is the ultimate relationship manager for brokers,” Mr Sutton said. “It gives brokers an unmatched range of tools and resources at their fingertips so they can quickly find the perfect product to help their clients achieve their goals.”

About the SME Growth Index – 10Th Anniversary edition

Commencing in March 2014, ScotPac’s twice-yearly SME Growth Index is Australia’s longest-running research report on SME sentiment towards revenue growth prospects.

The Round 20 research was conducted by East & Partners who interviewed 727 SME enterprises with annual revenues of A$1-20 million.

SMEs surveyed have operated continuously for 15 years and manage an average of 56.5 full time employees.

Sectors represented in the survey included Manufacturing (14%), Property & Business Services (14%), Retail (11%), Wholesale (12%), Personal & Other Services (10%), Construction (10%) and other industries including Transport & Storage, Mining, Agriculture, Media, Hospitality, Finance & Insurance (non-bank) and Electricity.

 

ScotPac is Australia and New Zealand’s largest non-bank SME business lender, providing funding to small, medium and large businesses from start-ups to enterprises exceeding $1 billion in revenues. For 35 years ScotPac has helped thousands of business owners succeed, offering fast and flexible funding. From simple to complex, small to large, start-up, growth or turnaround – ScotPac can help with a range of funding including Invoice Finance, Trade Finance, Asset Finance and Business Loans.

 

For more information contact:

Todd Hayward
Mob: 0412 205 151