Brisbane Small Businesses Need To Get Set For Growth

Brisbane Small Businesses Need to Get Set for Growth

* Economy expected to gain pace in second half of 2010
* Small businesses need to review cash flow management for growth
* Free small business forum being held in Brisbane on 16th March

10 March 2010: With signs that the economy is recovering, the Commonwealth Bank is supporting the Brisbane small business community to get ready for this new stage of growth by hosting a free small business forum.

The small business forum will be held on Tuesday 16th March 2010 between 7am and 9am at the Brisbane Marriott Hotel and is open to all business owners to attend.

Attendees will hear from independent financial commentator and small business expert, Peter Switzer, as well as multi-award winning small business owner, Angela Vithoulkas. They will also hear from Craig James, Chief Economist of the Bank's broking subsidiary CommSec, who will share his thoughts on the state of the Queensland economy.

The workshop will highlight why it's important for small businesses to be prepared for the expected upturn in the economy and will provide practical tips and information to help business owners re-engineer their finances so they can make the most of improved business conditions.

Symon Brewis-Weston, the Bank's Executive General Manager Local Business Banking, believes the forum will empower local businesses to re-examine their finances so they can take advantage of current and future business opportunities.

"The forum will provide information to assist business owners with managing their cash flow to ensure they can operate in both good times and bad economic times. Those who attend will get an understanding of how to balance growth with prudence to ensure they are positioned for sustainable success.

"The forum will not only provide attendees with the opportunity to hear independent financial information, they'll also be able to seek feedback on their current situation," Mr Brewis-Weston added.

According to Peter Switzer, the key to business growth is good cash management, which is why he'll be sharing some of his insights and knowledge on how business owners can improve their cash flow at the forum.

"Cash flow is the number one threat to business owners, so it's surprising that most aren't experts on collecting money that is owed to them. I'll be discussing this issue on the 16th March, as well as providing tips on how to develop a cash flow projection."

According to Craig James, the Queensland economy has gathered momentum over the past 12 months following the global financial crisis and although conditions are still soft, they are expected to pick up in the second half of the year.

"We expect Queensland business conditions to further improve throughout 2010, buoyed by higher consumer sentiment and the recovery in the resources sector. Business owners in Queensland need to know how to harness this growth, to position themselves for solid returns in the future."

ENDS

Contact: Kate Powditch : Commonwealth Bank : 02 9118 1667
[email protected]


SOURCE: Commonwealth Bank