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Many business owners will be gearing up for the new financial year, beginning 1 July.
This is a time for reviewing performance and putting plans in place for the coming financial year.
A busy time for business owners is a busy time for brokers. In a discussion with Broker Daily, Prospa’s general manager of sales and partnerships, Roberto Sanz, highlighted how crucial brokers are to SME clients this time of year.
“This planning phase often highlights the need for new investments, and securing finance becomes a key priority to take advantage of upcoming opportunities. Many businesses prefer to access funding before the financial year ends, incurring expenses in the current year while aiming to generate returns in the new one,” Sanz said.
“EOFY is also a period marked by aggressive promotions, particularly as businesses look to incentivise purchases. In the B2B space, these offers often lead to increased demand, requiring additional cash flow to secure goods or services at discounted rates.
“As a result, there is typically a surge in demand for finance and cash flow solutions during this time. Businesses will actively seek lending products that align with their goals, and brokers are ideally positioned to guide them in finding the right solutions for their unique funding needs, providing a sense of relief and reassurance.”
Brokers should be proactive in this period and gain some momentum. This begins with understanding the needs of the client, said Sanz.
“Start by building a clear understanding of the business landscape for your client heading into EOFY, as this will give you insight into both the challenges and the opportunities that lie ahead,” said Sanz.
“Review your existing customer base and map out specific needs by industry, as this allows you to tailor your communication and offer relevant, industry-specific insights. By using these insights and demonstrating your understanding, you will position yourself as a trusted adviser and subject matter.”
Communication must also remain strong. With EOFY, the “peak period” for business clients, Sanz said, timely and proactive education is a must in order to keep borrowers engaged.
“To be top of mind when your clients are ready to act, you must engage early. A proactive communication strategy – including timely marketing messages followed by direct outreach – will increase your visibility and credibility. Consistent, value-driven contact is key to becoming a go-to finance partner,” he said.
“Speed is essential during EOFY. Clients often require funding solutions within tight timeframes. To meet these expectations, ensure you have the tools and processes in place to assess funding options quickly and secure approvals within hours or days – not weeks. Brokers who can deliver fast, reliable outcomes will stand out and win more business during this busy time.”
The end of financial year can place pressure on brokers. This can result in shortfalls.
The sharp increase in borrower activity towards the end of the financial year can place strain on brokers as they juggle responsibilities.
Sanz said that brokers should avoid neglecting clients amid the busy period. Careful planning and thoughtful time management can help mitigate these issues.
“Success in the new financial year is shaped by prior planning and investment to solve upcoming challenges or pursue opportunities. Equally important is the act of starting the year with clear, well-defined goals and strategies in place,” he said.
“This step can mean the difference between a strong launch and a slow start. Many of these initiatives – such as hiring new staff, launching new projects, or developing new products or services – require upfront investment. Having access to the necessary funding ensures business owners can move quickly on these opportunities, setting the pace for early success.”
[Related: Finance Specialist: Seasonal trends likely to impact SME clients]
