One lender is set for a “significant channel extension” to the accounting market, identifying significant growth opportunities with the self-employed and SME market.
Non-bank lender opens its doors to accountants
Specialist lender Bluestone, which has serviced the SME and self-employed market since 2000, will be extending its suite of products to Australian accountants.
Bluestone’s products are typically geared towards servicing smaller clients, including contractors, workers with short-term projects, start-ups or established companies raising working capital.
Accountants’ strong hold on the Australian self-employed and SME market is where the growth opportunity lies for Bluestone.
“Accountants are in a privileged position to best identify challenges, or opportunities, with their self-employed clients – whether it be to address releasing funds to start or expand a business, consolidate debt, general cash flow management or payment of ATO debts,” Royden D’Vaz, national head of sales and marketing at Bluestone told Accountants Daily.
“Accountants who embrace their small business clients are tapping into the most powerful economic voice in Australia. Generally, this under-served market segment represents a significant opportunity to grow,” he said.
In Australia, the specialist lending market is worth about $4 billion, the bulk of which sits with small operators.
The marketplace of specialists and alternative lenders is continuing to grow in Australia, against a backdrop of bank funding being increasingly difficult to secure for SMEs. You can read more about this here.