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'Managing Uncertain Times' Forum broadcast live over across Australia
Equity markets, world oil prices and business confidence were among the many issues discussed during a Forum last night, hosted by the National Australia Bank and broadcast live across Australia. The Forum's panel of leading experts included Mr Robert Gottliebsen, Dr Alan Oster and Mr Michael Pascoe.
Key clients from the National's Business, Personal, Agribusiness, Corporate & Institutional and Private Banking segments, participated in the National's 'Managing Uncertain Times Forum' held in close to 70 National Business Banking Centres.
The Forum consisted of a panel discussion between a group of leading, high profile financial experts and commentators discussing the impacts of the current global uncertainty on the regional economy, investment, business sentiment and business operators. The panel of experts each provided insights into the current uncertain times and how to manage them.
Members of the expert panel included Mr Robert Gottliebsen, National Business Commentator, The Australian; Dr Alan Oster, the National's Chief Economist, and Mr Steve Lambert, Head of Markets Australia, Corporate & Institutional Banking also from the National. The panel was facilitated Mr Michael Pascoe, Finance Journalist.
Mr Paul Clark, General Manager, Business Financial Services said the aim of the Forum was to provide some of the National's key clients with access to up-to-the minute information to help them make investment and business decisions in this uncertain climate.
"Good business is built around good decisions and good decisions are built around good information. The National's relationship banking model is designed with this in mind – bankers understanding our clients needs to help them make good business decisions. This Forum is a great example of this principle at work." Mr Clark said.
According to Chief Economist, Dr Alan Oster, "Uncertain times are still here, what's important is not the war, but what happens after the war to oil prices, equity markets and business confidence".
"Business sentiment and investment is difficult to manage and understand. Currently, business conditions are sound, however, if uncertainty continues and businesses are uncertain it will impact investment and employment," said Dr Oster.
During the next two years, Mr Robert Gottliebsen suggested, that both small and large enterprises will need to examine the way they conduct they business as many of the developments that have been gathering momentum over the last few years will come to the fore.
"We are seeing a build up of big changes in the retail supply chain. Large corporations are seeking goods and services from anywhere in the world if delivery is reliable and it yields substantial savings.
"If you are supplying a large corporation with goods and services then you really need to follow closely the strategies that are being adopted and adjust your business accordingly.
"The groups that will win in this environment are those that have control over their customers," said Mr Gottliebsen.
Mr Gottliebsen added "For smaller enterprises niche products and developing products or services where you have a competitive advantage will be important".
"I believe Australian corporations are in good shape if the world economy and share markets hold up then our business sector and share market will do well. Our links both the US and Asia make us uniquely placed," remarked Mr Gottliebsen.
Mr Steve Lambert, Head of Markets Australia, Corporate & Institutional Banking at the National, considered the possible implications of the uncertainty on Australian financial markets and exchange rates.
" Interest rates are at generational lows. When they move they will move quickly, and the market moves well ahead of any official change in rates so the risk is on a move to the upside. This risk needs to be managed, " said Mr Lambert.
Mr Lambert pointed out that the AUD is a volatile currency and recent global events have increased this volatility. "Currencies need to be managed to protect against aggressive price fluctuations and consequent hits to profit margins," he said.
On the subject of the equity market, Mr Lambert added "The equity market looks good medium term but has some uncertainty around it short term. Any investment should be structured to allow maximum upside from moves in interest rates or equity markets while protecting any short term negative move".
"Feedback from our clients who participated in this unique initiative was extremely positive. In fact, the forum was so well-received that we have made it available for general viewing as a web cast on the National's web site," Paul Clark said.
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