Australian businesses prefer to use a broker

Research by a fintech lender, Ondeck Australia found that nine out of ten small to medium sized businesses would contact their broker to arrange commercial finance.

Their survey found that 60% of businesses surveyed would consider using a broker for their future financing needs. Over 86% of businesses who have used a broker in the past would always come back to their broker for finance. The main driver for business owners is the advice or opinions they receive from brokers. In their minds, it’s just like having access to a CFO without the overheads.

Australian businesses have said:

• 59% – want the advice and opinion of a broker
• 45% – found a broker to be helpful in the past
• 41% – wanted to get the best possible price
• 31% – lack of time to independently arrange finance
• 12% – needed finance urgently

It is without a doubt that an experienced broker plays a huge part in helping business owners to achieve their financing goals. The time and money saved from having good advice often leads to a more streamlined experience and strategic outcome for the business.

At Sqale, we take an advisory approach to all the clients directly or through our referral partners. We don’t see ourselves as only a specialist in business finance, we see ourselves as a long term finance partner for Australian businesses and our referral partners.