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Vol 30 – 18th May, 2005

 

BUSINESS NEWS

FOOD LESS LOCAL
With the recent shift of ownership of National Foods to San Miguel and Coke’s move on SPC, the level of local ownership of the food industry continues to shift. Industry sources say it now stands at less than 25%. The only big category of food manufacture not dominated by overseas control is the various dairy groups. But all food & beverage mergers are not bad as Foster's acquisition of Southcorp results in a world-class wine business.

DOMINANT BRANDS
The Top 25 Brands (locally owned) as researched by BRW is dominated by the huge banks and huge retailers. While Telstra was firmly at the top, the only local product manufacturer to make the high ratings was Billabong.

BUSINESS OUTLOOK

BUDGET VIEWED AS GOOD
A week after the federal budget was delivered and all the dust has had time to clear, the event has been viewed as at least good by nearly all economic commentators. Most agree that it broke the tradition of first budget after an election being a bad news budget.

WINTER BLUES
The Treasurer’s release of a considerable surplus appears to have had little flow-through into business confidence. This appears to be the findings of three key recent surveys from the NAB, ANZ and Dunn & Bradstreet which show reduced confidence all round with little shaking business out of it's pessimism going into winter. Many claimed they were still involved in too much discounting to maintain cash flows.

THE OXFORD ADVANTAGE

INVOICE DISCOUNTING

The revamped financial product that is growing better than 30 percent.

Oxford Funding has experienced an upsurge in the use of its Invoice Discounting product since it was revamped six months ago.

The lift in use is due to the way Oxford Funding has made two big changes compared to the market:

  • Selective discounting where customers can now choose which of their debtors to fund instead of having to submit all debtors, which means saving money.
  • Concentrations of larger debtors where Oxford Funding does not have the industry standard of a 30 percent limit.
“These changes were made deliberately to make us a lot more competitive,” says Oxford Funding’s Rob Lamers. “We’re now becoming associated with this type of product which in the last six months has become a big seller for us. And the amount of business we're writing is well ahead of the 30 percent industry growth rate for this area.

“It meets market needs because of the ability to select and the capping removal as well as the confidentiality advantage.

“Our now being part of the Bendigo Bank gives us a substantially improved operating platform due to the better cost of funds. Our Invoice Discounting product is now very competitive and is a great example of the way we are moving forward.” Lamers said.

To find out more about the benefits of Debtor Finance please contact Oxford direct on 1800 850 509. Alternatively visit www.oxfordfunding.com.au.

Kind Regards

 

Rob Lamers - 0422 306 372
National Sales & Marketing Manager
rob-lamers@oxfordfunding.com.au

 

 


 
   
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