Women In Business WA - Morning Tea Hosted by Suncorp Bank

Tuesday 11 March 2014

A NEW PERSPECTIVE ON BANKING

When was the last time you serviced your car? Went to the dentist? Doctor? Or booked in a massage?

Some, if not all of these things are items we regularly and perhaps automatically schedule (or try to avoid).

But when was the last time you reviewed or ‘serviced’ your mortgage, overdraft or credit card? Never is my answer and it wasn’t something I thought I could do until I heard it from the ladies at Suncorp Bank.

A group of Women in Business WA members had the opportunity to ‘pick the brains’ of Suncorp’s leading women at a special morning tea event, hosted by Suncorp Bank, in the city on 11 March.

For an hour and a half we had access to Business Banking Manager Lara Dowdall, Hay Street Branch Manager Sasini Wijesiri, Merchant Banking Specialist Annie Omadi and Mobile Lender Priscilla Harrison.

The result was some great advice about what to do when considering starting a business. Lara said “when starting a business you don't go into in blind.

“Before you visit the bank you need to speak to your accountant and or a financial banker to determine what you are doing, where going with your business, what structure you are going to use so you have a clear plan and strategy, before you start.

“A business banking manager will ask you these questions because our role is not to offer advice but to take the advice you have already gathered and make it happen.”

Sasini insists her clients review their home loan each year to ensure the loan still suits them.

“People’s personal and business circumstances change so reviewing bank agreements is important i.e. considering fixed versus a variable interest rate as well as what is happening in industry.”

Other valuable advice included that there is some flexibility to negotiate loan interest rates as well as merchant banking rates and that we shouldn’t be afraid to ask.

The Suncorp ladies acknowledged that banks don’t make things easy sometimes, especially for small business owners. However what was made very clear at the morning tea event was that the women at Suncorp want to be involved with Women In Business WA. They want to be the face of banking for WIBWA members and they want to create connections with you as a business operator.

Based on the response and outcome of this event we are sure to see more Suncorp Bank hosted events on the WIBWA calendar in coming months. So watch this space.

By Kim Kamarudin

CLEAR BLUE WRITING