BANKWEST is moving away from sole-branded financial seminars for small business clients, opting instead for independently run courses.
BankWest Business Express director Gary Johnson said the bank realised there was more expert advice out there able to deliver more independent content on financial dynamics and the key drivers of a business.
The bank realised the ongoing training and net-working afforded by such workshops was vital to small business and decided to team up with long-time associate Curtin Business School and BDO Chartered Accountants for a series of workshops.
BankWest and BDO will sponsor the one-day workshops, deliberately kept short to appeal to those businesses that cannot readily accommodate having key personnel absent from the business for long periods of time.
“Small businesses often start because someone has a great idea or is skilled in a particular trade,” Mr Johnson said.
“However, they often do not have the training to manage the finances and understand the key drivers as the business gets larger.
BankWest, which also sponsors training events with the Chamber of Commerce and Industry, spends up to 12 per cent of its small business marketing budget on business tools and training, Mr Johnson said. He said the outcomes were not only positive for small business within WA, but ultimately also improve the bank’s credit profile.
BDO marketing executive Melissa Giroud said the firm wanted its clients to know what to ask of their accountants, and what to expect.
She said the BDO professionals would benefit by enhanced mutual understanding with clients.
Curtin Business School Entrepreneurship Unit director Tim Atterton said he was passionate about such workshops, which had been evolving over a long time.
“It became clear to me that most small businesses don’t understand their finances,” he said.