Michael Norrish is the Principal Business Consultant and Adviser of Norrish and Associates.
Michael has a 40+ year career in the Banking and Finance sector within the Perth metropolitan and country regions of WA. He has worked for the R&I Bank (now BankWest), Perpetual Trustees (WA) Ltd, Barclays Bank Australia Limited and Challenge Bank.
His experience spans the whole gamut of the banking/finance industry. General Banking, Treasury/Funds Management, Corporate/Commercial Banking, Credit Control and Loans Management are all areas of which he has intimate knowledge.
The last 6 years of his contract with Challenge Bank was spent as Head of the Bank’s Loans Management section. This section was responsible for determining appropriate strategies and solutions for any enterprise/business that was experiencing trading and financial difficulty and hence unable to meet their financial commitments. Normally an “intensive care” workout strategy was required to overcome the customer’s problem.
It was noted that of all the files that came into Loans Management, common criteria as to the reason for the trading difficulty emerged. These criteria included: –
- Absence of a written Business Plan
- Absence of any Profit & Loss and/or Cash Flow Forecast information
- Lack of understanding of the importance of Cash Flow Forecasting and Budgeting
- An inadequate understanding of appropriate costing and pricing techniques
- Insufficient knowledge of necessary prudent business management practices and controls
- Inadequate management/control of debtors, creditors and stock
- Shortcomings in provision of appropriate in-house Management Information (financial reports) due to an inadequate (or lack of) computer system and/or accounting software
- Generally, the proprietor’s inability to present to their banker/financier in a comprehensive and complete manner, the finance requirements and strategy (from their point of view) necessary to overcome their financial problems
As a result of the foregoing, Michael established his own consultancy operation in January 1998 with a view to assisting viable businesses. His focus since establishing his business has been mainly on the business planning, financial forecasting and mentoring/coaching areas.
Business Plan implementation and follow-up with regular mentoring/monitoring/coaching conducted at the client’s business site are considered necessary to maintain the clients focus and maximise benefits.
His wide experience coupled with his knowledge of the local Banking/Finance industry equipped him well to provide such a service. Input and advice from Michael would encompass all of the above areas.
Michael has undertaken consultancy roles for Deloitte Australia (formerly Deloitte Touche Tohmatsu), Western Australian Viticulture Services Ltd, Norgard Clohessy Equity Pty Ltd, Police & Nurses Credit Society Ltd, Ernst & Young, Indigenous Business Australia, AusIndustry, Department of Premier & Cabinet, Harlequin Business & Training Consultants and the Department of Education, Employment and Workplace Relations.
His services will prove invaluable to any enterprise that has a desire to advance their business. Such assistance would provide the proprietors of the enterprise with the skills that would enable more effective and efficient operational activity. Most importantly an improved profitability outcome should eventuate.
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