Op-ed: Cost of living issues open options for advisers

Advisers play a key role for their clients when it comes to personal finances - like providing advice on personal loans and mortgages. But what about business finance?

The latest RFI research, commissioned by Prospa, provides insight into what might be keeping small business owners awake at night.

The current economic environment is proving tough for consumers and businesses alike. About 22% of small businesses reported that they will be seeking professional advice about their business finances in the next 12 months. So, while advisers are kept busy writing the lion's share of the country's personal mortgages (around 60%), there is definitely an opportunity for them to support small business owners too.

There are about 546,000 small businesses in New Zealand, so chances are that advisers already have small businesses on their books in the form of personal finance clients. Great advisers spend countless hours with their mortgage clients, getting to know them on a personal level to understand and meet their needs.