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Jessica Darnbrough
Brokers should look to target small business owners moving forward, with new data showing the number of people running their own business has increased 3.3 per cent in the last 12 months.
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According to research conducted by Bankwest, an additional 42,000 entrepreneurs started up their own company in the 12 months to February 2011.
This is the strongest level of growth seen in almost a decade with 1.3 million Australians now running their own business.
Bankwest business chief executive Ian Corfield said the industry is starting to see the first green shoots of recovery for SMEs.
“This is the highest level we have seen of SME since November 2002,” he said.
Sintex general manager Cathy Dimarchos told The Adviser that brokers are in a prime position to help small business owners with their financial needs.
“Small business owners recognise the value of receiving sound professional advice from another small business owner,” she said.
“In addition, they are more likely to use their broker again and again for all their financial needs. They may need a commercial loan, car finance as well as insurance, and a broker is in the perfect position to help them with all of these needs.”
