On Thursday 14 March, Year 12 Business Management students were very fortunate to have Mr Michael Rose, owner of the Cannon Hill Bank of Queensland branch, further enhance our knowledge about business finance. His visit was very timely, as we are preparing an investigative research inquiry focused on how businesses finance growth and develop strategies concerning critical factors such as efficiency, profitability, accounts receivable and inventory management.
Mr Rose’s advice was extremely relevant given the changes expected in the finance industry following the recent Hayne Banking Royal Commission. It was very clear that businesses must be well prepared to present the comprehensive and full set of documentation a bank requires to consider a loan application be it for seed capital, growth funding or indeed to assist in managing working capital.
We also learnt about the various factors an organisation can offer the bank as security for any loan, such as assets, and the repayment capacity that are assessed before lending money. The presentation revisited the types of finance available to businesses—a topic we have already covered in class. This created a great opportunity for us to ask Mr Rose questions and hear about real-life business scenarios. Finally, we covered how banks assess business risk and ensure protection of loan funds.
On behalf of the class, I would like thank Mr Medcalf and Mr Florido for organising Mr Rose to come and talk to us, it was an invaluable experience.
Sophie Baird, Year 12