WORD FROM CEO

Greetings!

There is no doubt it has been a tough year for many small/medium enterprises (SMEs). We have seen many SMEs reorganise. For many, the day-to-day focus is on keeping the costs out of their business. Many are also working to readjust to a different scale of business. The market is of a different size. This is now the “new normal” for many SMEs.

Recent figures by the Statistics Department show that for the first time in nine years, there has been a 1.7 per cent drop in the number of businesses in New Zealand. In the building industry alone some 2,800 companies have disappeared. For the first time in nearly a decade, closures have outpaced new businesses.

Amidst all these negative news, there are SMEs that have made progress with new deals and growing market share. We have many incredibly resilient entrepreneurs who have great tenacity and vision. We believe there are still more fantastic opportunities in the market.

As I have said before, Lock Finance gets a thrill from knowing our customers well, learning about their businesses and helping them take those steps forward to grow. We want to help you reach your Big Hairy Audacious Goals, doing what we do best – providing financial solutions to your business.

We are fortunate to be in a position of strength due to our strong financial backing. We also offer a diverse product range -- Working Capital Finance, Trade Finance, Debtor Finance and Factoring -- to cater to different needs. We are flexible. Most of all, we pride ourselves on our ability to listen, and offer creative solutions.

I hope we can be part of your success in 2011 and beyond. On behalf of all the team at Lock Finance I wish you and your families a Merry Christmas and a Happy New Year!

Simon Thompson
CEO, Lock Finance