Don’t Hire A Business Advisor / Brokers For Your M&A And Capital Loan Needs In Canada

Updated: May 30, 2011

Well, we think we have hopefully made our point that there will be many times when there will be significant value in not wasting internal resources and people time when you are looking for business financing. Who would ever want to be accused of making the mistake of trying to manage and execute on all your business financing needs without any professional help. No one we know, that's for sure.

Over time, and trust us we don't know why, we have come to dislike the word ' broker '. In reality we confess at the same time that we see everyone uses a mortgage, insurance or other type of broker to get a qualified, credible ' best deal '. So the middleman approach clearly has value to the consumer. Does it have value to a business? We think so, and here's why.

Whether your business is in hyper growth mode, or at the opposite end of the spectrum, in financial distress surely you welcome the concept of an expert. You could be looking to complete an m&a transaction, or looking for loan and working capital facilities. Naturally there are many routine aspects of a business that do not require expert help, but when it comes to key issues around your businesses ultimate success are you 100% confident, on your own, all the time , that you have data , information, and possibilities covered. We doubt it, and we think you do also.

In effect you're looking for a ' business doctor' if we can call it that. And that's probably not a bad analogy given the importance you might place on going to a good doctor for serious reasons.

There are always questions you have when you are considering Canadian business financing, and a good business advisor will answer those questions based on experience, at the same time pointing out alternative you may never have thought of.

But, and its a bit but , never assume that everyone out there who tells you they can assist in business financing, loan and working capital needs, or m&a help .. Knows of what they speak. The choice of a solid advisor can make or break your success in Canadian business financing for new or refinancing capital.

So what should you look for in a good advisor? We're pretty sure it's intuitive, but we speak to so many clients who feel either burned or let down by past experience. So focus on some key areas such as the advisor number of years in practicing what they do. Do they have solid credible contacts?

References are of course also great, and with the internet you can Google anyone in business with a reputation and determine a lot about the quality and reputation and credibility of that firm or person. Remember, you're entrusting them with your financing in a very confidential way, and that's important.

Don't settle for generalists also, focus in on someone who can deliver on the specific financing you need, in areas such as m&a, working capital, asset based financing, franchising, or more esoteric new products such as confidential invoice discounting, purchase order financing, tax credit financing, etc.

You ultimately want to feel comfortable on sharing information with this person or firm, reviewing pitfalls, and most importantly, representing your firm in its business financing needs.

Featured Research
  • 2017 Contact Center Software Cost Guide

    Are you paying too much for your contact center software? Are you satisfied with its capabilities, or do you wish it did more? These are questions most businesses don’t take the time to think about, even though contact center software is one of the most important investments that you’ll make. With a little bit of planning, you can end up saving money and still end up with better functionality. more

  • What You Need to Know About VoIP Security

    No matter the industry or area of expertise, a strong VoIP system is the perfect tool for any business looking to take both its internal and external communication to the next level. more

  • Are You Using These 5 VoIP Features?

    In large part, the success of your business depends on the strength and reliability of your team’s many communication networks—this includes your Voice over Internet Protocol system (VoIP). more

  • Video Conferencing Best Practices

    Video conferencing is quickly becoming one of the most important communication channels for both small and big businesses. As more businesses turn to this technology, expectations about the experience are also rising. It’s not enough to just offer video conferencing as a communication method. You also need to meet minimum audio and visual standards, and there’s even proper etiquette to consider. more

  • 10 Contact Center Myths Busted

    For most forward-thinking companies, the use of contact center software is on the rise. That said, in spite of contact center software’s sudden rise in popularity, a number of myths have begun to take shape. more