Uptick in business sentiment driving fit-out finance


3427177-australian-currency-over-whiteBUSINESSES TRADITIONALLY REFRAIN from making non-essential improvements during times of economic uncertainty and veterinary practices are no exception. However, with consumer and business sentiment on the improve, Investec’s Paul Catanzariti explores why 2014 is an opportune time to assess the aesthetic of your practice to keep up to date and assist in luring patients through the door.

For many practice owners, 2013 represented a year of cautiousness. Some areas of fiscal policy led to an uptick in consumer spending and confidence, while at the same time, a federal election loomed for much of the year; the Australian dollar began its steady decline and sectors such as manufacturing and mining either flat-lined or weakened significantly.

It’s often a challenge for practices to gauge the right time to finance improvements such as a fit-out refresh, but with higher than expected growth forecast for the remainder of this year, capitalising on improved conditions should be viewed as a time to explore new fit-out requirements.

Practice owners will need to weigh up whether these refurbishments are cosmetic or structural – in some instances, space will be the catalyst as the business will have outgrown the confines of the practice, while in others, it’s because the interior design has become outdated and in need of
an overhaul.


Individual approach to practice finance

How should practice owners weigh up the best approach to finance these improvements? There is no one type of financing option more popular than the other, as it depends on the undertaking of the individual practice – applications will be assessed on the current circumstances of the practice, tax effects, the financial position of the owner and cash flow implications.

There are opportunities in the current market for veterinary professionals to secure financing for practice fit-outs or other refurbishments without providing security over current assets or personal equity. Leasing, hire purchasing or getting a loan are some of the options available.

Investec is a Gold Corporate Supporter of the Australian Veterinary Association and recognises that while there have been changes to the profession over time, some aspects have remained constant.

The stability of the veterinary profession enables Investec to specialise in a unique financing environment. As a lender, Investec fully support the veterinary profession and the qualifications and ongoing training that underpin it.

Understanding the nuances of being a veterinary practice owner – your role to provide patients & their owners with the best possible care and attention, and our role as assisting the veterinarian and their practice from a financing point of view – comes naturally to Investec with over 20 years experience with the industry.

As specialists, Investec is better positioned to process finance applications in a more streamlined manner than generalist lending institutions, removing any red tape that could impede the timeliness of securing approval. Dedicated teams are in place to provide efficiency from approval right through to settlement and beyond.  Investec’s specialisation brings with it the ability to recognise the specific financing need – such as practice fit-outs and refurbishments – and allows Investec to put in place an appropriate structure. Having tax efficient and cash flow sensitive finance gives the veterinarian comfort in being able to provide patients & owners a better practice experience.

To understand financing options and to enable practitioners to make an informed decision, speak to a professional in the industry with experience in financing for veterinary professionals. Investec have over 20 years experience providing personal and dedicated service to the veterinary sector for both business and personal finance. For more on funding fit-out and equipment, contact one of our veterinary finance specialists on 1300 131 141 or visit our website.

Your local veterinary finance specialist

NSW/ACTPaul Catanzariti0406 664 377
QLD/NTTodd O’Reilly0419 230 053
SAKingsley Valladares0406 428 827
VIC/TASKelly Gall0406 429 268
WARichard Curia0404 871 660



The information contained in this article (“Information”) is general in nature and has been provided in good faith, without taking into account your personal circumstances. While all reasonable care has been taken to ensure that the information is accurate and opinions fair and reasonable, no warranties in this regard are provided. We recommend that you obtain independent financial and tax advice before making any decisions.





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