Recently we caught up with Director Glenn Palmer. Born and bred in the region, Glenn joined the firm as a trainee back in 1986, before becoming a Director in 2009. Glenn talks about the current business environment, his involvement with the local community and his one-eyed passion for Richmond Football Club.
A lot has changed since you joined PPT as a trainee in 1986, what are some of the highlights?
A lot has changed over the years. When I started one computer the size of a phone box so technology has been a massive change that we as a firm have embraced. The real highlight is the long term relationships/friendships with fellow staff and clients. Working with clients evolve and grow their businesses is the real highlight. Many of these businesses we are now dealing with succession issues, some involving the next generation which is very rewarding.
When you were at school did you dream of becoming an accountant or a Richmond full forward?
The dream was more Centre Half Forward – probably a good career move choosing accountancy as the Tigers were broke and hopeless for most of the eighties/nineties.
Interest rates are all-time lows, but the banks have tightened lending policy, how is this affecting clients?
It is more difficult to get new lending up for businesses, particularly start-ups. More than ever it is important that clients have a Business Plan and detailed Cash Flow Projections and Budgets as without these securing finance is very difficult. I think banks are starting to ease their lending policies through as they seek more market share and now that the Royal Commission’s findings have been handed down.
Traditionally when people think about accountants they think tax, but how has your role evolved over the year?
It is evolving more into the Business Advisory role which is the much more exciting and interesting part of the services we offer. Meeting with clients on a quarterly basis where we go over their results and then help them with their plans going forward means we have a much more meaningful and valuable role in their business.
What advice would you give to someone starting out in small business?
My first question is always why do you want to. To start a new business you need passion and a vision for what you want to build and if you don’t understand that from the start you are unlikely to succeed. Benjamin Franklin said “if you fail to plan, you are planning to fail” and this is true for most businesses.
You are involved with a few local clubs and organisations, tell us about that …
I am involved with the Lake Wendouree Junior Football Netball Club this year, where my kids both play. I have been on the committee for a number of years and have stepped up to President this year, sharing the role with Mitch Gilbert which has been interesting with a number of challenges to deal with. I see this as a stepping stone to take over at Tigerland when Peggy O’Neal’s tenure is up.
The footy season has now started, other than Richmond, who will be there with them in September?
With Rance out for the year, I wouldn’t be confident of the Tigers making it. To me, the Giants and West Coast will be thereabouts.
To contact Glenn Palmer call PPT on (03) 5331 3711 or complete our online enquiry form.