For many small and medium enterprises, an outsourced accounting firm fulfils their need, not only for accounting compliance, but also for financial advice. Often, this takes the form of identifying trends in different areas. For example, increased sales volume when accompanied with increased costs can cause a business to become less profitable while working harder than ever. But at times, the questions can become more complicated and may fall outside an accounting firm’s area of specialisation.
Identifying the best lending options for SMEs may be among these, especially if the requirement is for unsecured lending to cover short-term cash flow issues or to purchase new capital goods.
As financial advisors to SMEs, accountants will want to give the best possible advice to their clients, and in order to do so, they often refer them to Zetara Finance Partners. Founder and director Yuan Chong says they choose him because he keeps them fully informed of the options he has identified for their clients, allowing them to assess the results and offer their opinions on accepting financing offers as part of their consulting role.
In doing so, accountants often find that Yuan Chong has already done the legwork, informing their clients of the outcomes they can expect and educating them on the advisability of accepting the best offers he is able to secure for them. To him, it’s not a matter of “selling” loans. He’s looking for ways in which SMEs can reach their goals without risking their personal assets. But there’s more to it than that.
“Zetara Finance Partners wants small and medium enterprises to succeed,” says Yuan. “There are times when an unsecured lending option can help them over a hurdle, but there are also times when it would be wisest for the SME to tighten its belt and do without unsecured lending. It all depends on the business’s profile.”
“Accounting firms know that Zetara Finance Partners will keep them fully informed, and they’ll add their opinions to Zetara’s findings, allowing small and medium businesses to know whether they are making the right decision when agreeing to an unsecured business loan.”
There are times when Yuan Chong will have no reservations about recommending an unsecured lending option, and there are times when he would advise against the acceptance of offers. In the process, small business entrepreneurs gain valuable information on the health of their businesses and whether getting additional financing will be worthwhile given the cost of credit and the financial health of their businesses. And it’s all done at no cost to the SME.
Yuan Chong is open about how his business makes its money. “When businesses seeking finance are referred to lenders, there is a commission. Essentially, the lender pays to get business. Zetara Finance believes in sharing this equitably with its partners – the brokers and accountants who refer their clients for consultation. Zetara’s philosophy is that all parties should gain from any transaction. Brokers and accountants should have an opportunity to grow their revenue while being sure that they’re doing what’s best for their clients. Small business owners should also gain, since that’s the point of the exercise. They will also know exactly what to expect and what impact their choice will have on their business’s health. At the same time, no decision will be made without the referring partner, be it a lending broker or an accountant, being kept in the loop throughout the process leading up to a conclusion.”
Yuan Chong sees his business as being placed in a position of trust. His goal is to justify that trust – and more. “It’s about Partnership, and that is reflected in Zetara Finance Partners name. The goal is to ensure that we maintain that position, both with respect to referring partners, and the clients they send to us for unsecured business lending advice.”
For more information visit the Zetara Finance – Funding Your Business Towards Success website or call their team of experts on 0482 619 996.