Private equity grabs most of the headlines in our sector, but without the range of facilities your bank has to offer, you might find it hard to grow your agency effectively.
Exactly quite how significant that contribution can be comes to life in this latest Waypointers episode (link), where partner Matt Lacey talks to Frazer Barrs, Head of Media, within Barclays Corporate.
If you thought you knew what your bank can do for your scaled business, you’re in for a few surprises.
Frazer’s appearance on Waypointers comes as Barclays is approaching 40 years supporting businesses across media, marketing and creative industries, although Frazer is keen to point out he’s only been in role for around fifteen of those years!
What listeners will immediately notice is Frazer’s infectious passion for the sector. Our industry can at times be really hard on itself but Frazer reminds us that the wider creative sector is rooting for our part of the market to do well. In his words, “advertising is the fuel that powers the industry” and if we’re having a tough time, then that means less available budget to commission and make great content across the board – film, TV, radio, gaming and so on.
Barclays’ four decades of support and commitment to the sector means the bank has seen it grow and navigate a number of cyclical downturns, coming back stronger each time, resilient and able to reinvent itself. Frazer does a great job of reminding listeners why ours is a great industry and why Barclays is committed to it.
A resilient sector:
Frazer is regularly surprised to come across fast growing businesses that seemingly explode out of nowhere, driving innovation. He sees this as the mark of an industry that knows how to adapt and thrive. He also expects to see exciting start ups coming off the back of recent seismic change including mega mergers.
Do you really know how your bank can support you:
Listen to Frazer explain:
– how your company credit card could be working much harder for your agency and supporting with cashflow, supplier discounting, payment terms etc.
– how a receivables finance approach could support your agency in unlocking value sitting on your balance sheet
– how to actively work out whether your bank is really interested in you/your growth journey and understands the industry more broadly
Fraud:
This is where Frazer gets deadly serious, having seen too much go wrong. He emphasises the importance of regular training for finance teams and how not all scams are tech lead.
For a surprisingly interesting conversation about banking, select the Waypointers link.