AICM National Economic Breakfast series

AICM National Economic Breakfast series

Sponsored by TurksLegal

AICM was excited to return to events in 2021 and to work with our National Partner TurksLegal to deliver a series of Economic Breakfasts across all divisions.

TurksLegal Partner’s Andrew Forbes and Fiona Reynolds were delighted to introduce the guest speakers at the Brisbane and Sydney events respectively. These events were held in February and we asked both Andrew and Fiona to provide a brief summary of each event including some key takeaways so that other divisions can see what’s ahead for their events.

QLD

QLD Economic Breakfast

Over 50 credit professionals attended the Brisbane AICM Economic breakfast held on 19 February 2021 at Pacific Hotel in Spring Hill. NAB’s Senior Financial Markets Manager, Justin Green, was the guest speaker.

Justin prepared a detailed economic briefing in which his key messages were about the positive outlook NAB analysts hold for the Australian economy and how it has weathered the pandemic, with assistance from government stimulus.

The post-COVID outlook for the Australian economy is brighter than some had feared. The ‘cliff’ that it was feared we would fall off in March when JobKeeper was brought to an end is not expected to be significant. This is because of: z the steps taken to control the virus allowing businesses to open comparatively early; z substantial government stimulus; z very low interest rates; and z personal cash reserves, diverted from internal spending. The takeaway tip from the breakfast was a reminder to ask your boss for a pay-rise because the quickest way to stimulate the economy is to encourage spending.

I was proud to give a historically and geographically relevant Acknowledgement of Country, reminding everyone that Spring Hill was an important meeting

NSW

place for indigenous tribes as Brisbane grew in the early to mid-1800’s.

The Brisbane breakfast also celebrated AICM members who have recently become accredited with their CCE plus those who had recertified along with those members who have maintained their association for decades and attained membership anniversary milestones.

It was lovely to acknowledge their efforts in person with plenty of ‘COVID-safe’ clapping.

– Andrew Forbes MICM Partner

NSW Economic breakfast

There was a fantastic turnout of 60 credit professionals to the NSW Economic breakfast held in Sydney on 25 February. Powered by a delicious hot breakfast provided by the event’s host, Rydges Sydney Central, everyone was excited and energised to be out of the home office and networking in person, many for the first time in over a year!

The guest speaker was Mark Thirwell, Chief Economist at the Australian Institute of Company Directors. Mark is a highly experienced and respected economic analyst who has more than 25 years experience in tracking the economy. Mark presented a very interesting and engaging presentation on ‘Covid-nomics’.

By drawing on statistical data from various industries, he looked at the impact of the ‘Corona Virus Crisis’ or ‘CVC’ on the Australian economy in the short and long term. ‘CVC’ is a term Mark himself coined which he hopes will gain popularity and become part of our COVID-19 vocabulary. Mark’s expert insights and analysis enabled us to gain some useful insights into how the CVC will affect current and future economic policies; our work practice; our spending habits and our industry.

The Sydney breakfast also acknowledged the accreditation of AICM members. It was a wonderful opportunity for the achievements of these members to be publicly acknowledged.

– Fiona Reynolds MICM Partner

Vic/Tas

Vic/Tas Economic breakfast

There was a definite buzz in the air at the Victorian Economic breakfast held on 17 April at the Jasper Hotel in Melbourne as everyone was thirsty for the opportunity to network in person with fellow credit professionals.

Vic/Tas Division CCE Chair Mary Petreski, injected the room with her usual enthusiasm as the MC.

I had the pleasure of introducing the guest speaker Dean Pearson, Head of Behavioural and Industry Economics at National Australia Bank.

Dean has over 25 years’ experience analysing the economy and assessing the implications both in Australia and globally.

The overall message in Dean’s very insightful economic update was that the economy is powering along and has recovered much better than anyone anticipated. The government stimulus packages had encouraged spending and this has been an important factor in the rapid economic recovery we are seeing.

Some of the key insights included: z industrial property investment had boomed, fueled by the upswing in online retail; z unemployment had fallen all around Australia, with

WA experiencing the lowest unemployment rate in the country; z building approvals are up; z business conditions and confidence are at an all-time high; z spending, in particular on our homes, retail goods and at stores in our local areas is on the increase; and z certain sectors of the economy, such as tourism and entertainment, are under stress.

Following the presentation Vic/Tas Division President Sherif Hussein presented certificates to acknowledge the recertification of those members who are Certified Credit Executives of the AICM and to other AICM members who had achieved significant milestones as members.

Congratulations to the AICM committee for putting on this very enjoyable event.

– Allan Kawalsky MICM Partner

The remaining breakfasts in the series are:

Western Australia 18 May Doubletree By Hilton Perth Northbridge

Click here to register for the Western Australia event.