Five minutes with… Gary Webb
Consultant Gary Webb joined Complete Commercial Finance shortly after it was established in 2020. As 2022 draws to a close, we caught up with him to see how the year has been.
How's 2022 been?
I’ve really enjoyed working with a variety of clients throughout the year, from supporting a management buy-out to organising commercial mortgages and funding for residential developments. It’s always fantastic to help and see businesses grow and achieve new ventures with effective use of commercial finance.
Are then any sectors of business which have been particularly busy in 2022?
Most sectors are using commercial finance to acquire assets rather than use their own cash as it’s sensible to keep reserves available for working capital purposes. I can never reiterate enough how valuable business finance can be to ensure that a business has sufficient funds to fallback on and maintain cashflow, and I think more companies are realising this, particularly post-pandemic.
What advice would you offer to businesses planning for 2023?
Recent economic upheaval and base rate rises may affect confidence. However, before the 2008 financial crash the base rate was 5.25 per cent and for 2023 it would be prudent for businesses to assess affordability against that level of cost – that’s not to necessarily say that rates will peak at this level, but ensuring you have enough leeway is an important part of budget management and a good benchmark to work to. Spend time keeping your management accounts up-to-date to provide early warning signs that you may need to make adjustments, given the current volatility of the markets.
What’s the most important piece of advice you would give to companies that are struggling?
Don’t be afraid to seek out advice in any area you are struggling in. There is a wealth of expertise out there and experienced brokers can always point you in the right direction to get that support. We tend towards hiding financial challenges, but by acting sooner rather than later and exploring options, you will have far more options to explore which could put your mind at ease and avoid unnecessary worry or disruption to your business.
What business innovations have you seen in the region this year?
I look forward to the seeing the entrants in the 2023 Mayor’s Business Awards. It never fails to amaze me when I look at what a thriving, diverse local economy we have, with many successful businesses.
What’s the best thing about your job?
Previously I would spend 80 per cent of my time working on internal paperwork, and 20 per cent seeing customers. Now those ratios are comfortably reversed making my job far more enjoyable and rewarding.
