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Articles by Gary Palmer
Letters: A few facts about bike rentals in Westerly
Listening to Town Council meetings is always fascinating for me. Sometimes strange world views come into focus, as in the April 6 discussion of rental bikes. Though not really my style, I’m compelled to provide a few facts about bike rentals in Westerly, as I founded and operated Napatree Bikes for 24 years, most of those as the sole provider of rental bicycle transportation along the western Rhode Island beach areas.
GARY PALMER: How to deal with collapsing business partnerships
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers. Choosing the right business partner is a critical decision that significantly influences a venture’s success and dynamics.
Ethical property investments: Growth and impact for investors Original
Shariah-compliant property investments allow investors to access all the benefits of the property market while making a positive social contribution, writes Al Mabroor, head of customer relations at Farida Ahmed. Source: Supplied. Farida Ahmed, head of customer relations at Al Mabroor. With property being an established part of the investment landscape, Shariah-compliant property products have shown special resilience and growth recently.
The Payments Association Whitepaper on Cross-border Payments
The Payments Association, which celebrates innovation and collaboration across the payments industry, has released a new whitepaper exploring the growth potential and future of Cross-border Payments, citing technology as a key driver in making them cheaper, faster and more accessible. In doing so, it will bring huge benefits to businesses and households in emerging and developing countries.
PXP Financial, Mastercard and Payall collaborate to take the pain out of cross-border payments
PXP Financial, an expert in acquiring and payment processing services, has today announced a new collaboration with global technology company Mastercard and payments infrastructure provider Payall, to deliver safe, compliant and efficient cross-border payments and international money transfers. This collaboration offers inclusive payment capabilities that enable PXP Financial’s customers to send funds to their partners, employees and suppliers safely, efficiently and more conveniently than ever.
For SA's SMEs to thrive, government's 'own-goal' mentality must go
Banks and other lenders would like to fund SMEs and have the capital to do so. Still, there is hesitancy and reluctance to provide funding, mainly if an SME is relying on government institutions to make payments. For many SMEs’, particularly black-owned SMEs, government contracts have been their lifeblood. But because government either can’t pay its bills or is too disorganised to get admin done, SMEs cannot secure funding using purchase orders as security.
For SA's SMEs to thrive, government's 'own-goal' mentality must go
Gary Palmer, CEO at Paragon Lending Solutions | image supplied For many SMEs’, particularly black-owned SMEs, government contracts have been their lifeblood. But because government either can’t pay its bills or is too disorganised to get admin done, SMEs cannot secure funding using purchase orders as security.
Letter: Speed Limit Issues
Concerning the article “City to Drivers: Unposted Areas Are 25 MPH” (Press & Dakotan, July 28), I should start by saying I’m not opposed to sensibly implemented speed restrictions within the city limits. The city is charged with providing for the safe and expeditious progress of traffic, a job I have generally felt it does rather well. However, my concern is with the idea that a particular speed limit should be enforced without any display whatsoever across the entire city.
Prepare for further interest rate increases
By Opinion 56m ago RANDS AND SENSE By Gary Palmer The SA Reserve Bank Monetary Policy Committee’s recent decision to increase the repo rate from 3.5% to 3.75% and subsequently the prime lending rate from 7% to 7.25%, is little surprise as rumblings of an increase have been in the market for some time. An increase impacts finances, affordability and how consumers should be thinking about the future, particularly as regards property.
Prepare for further interest rate increases
The Monetary Policy Committee's decision to increase the repo rate from 3.5% to 3.75% and subsequently the prime lending rate from 7% to 7.25%, is little surprise as rumblings of an increase have been in the market for some time. An increase impacts finances, affordability and how consumers should be thinking about the future, particularly as regards property.
4 ways to sweeten a commercial property deal
Selling a commercial property can be a challenge in difficult economic times, particularly in the current environment where many companies have left the office to work from home. But there are more ways than simply lowering the price to entice a suitable buyer. Here are four ways to improve your likelihood of a sale. Gary Palmer, CEO of Paragon Lending Solutions 1.
Property winners and losers may shift in second half of the year
The last 18 months have seen some clear winners and losers in the property industry. However, things may not stay the same in the next six months, especially if we experience an extended period of high levels of Covid infections and even more shutdowns. Gary Palmer, CEO of Paragon Lending Solutions Residential property The big winners have been residential properties under R1m, which have done exceptionally well.
Real Estate Investing in Africa; Timing And Bargaining With Gary Palmer
Real Estate Investing, Africa Business Radio, Gary Palmer, Paragon Lending Solution Gary Palmer is the CEO at Paragon Lending Solutions, which he founded in 2009 and has grown into a successful provider of finance to established entrepreneurs. Gary has a comprehensive understanding of the financial levers for business growth. During tenures at Ernst Young UK and Investec SA, he specialized in corporate finance, focusing on financial structuring for institutional high-net-worth individuals.
A rigid approach could be a death knell in the current property market
After a year of global volatility, the property market remains one of the most mercurial sectors. It's only the most agile industry players who have weathered the pandemic storm. And, with no end to the uncertainty in sight, a responsive attitude from both landlords and developers will be required for some months yet. Gary Palmer, CEO of Paragon Lending Solutions Landlords need to take a fresh approach There is no getting away from it, office space is in a dire situation.
Lesser known property sub-sectors offer hope for battle-scarred investors
Despite the patchy property performance last year, there are still pockets of excellence for the smart investor. This is particularly the case in the seldom spoken of sub-sectors of our property market which hold real value for those who are prepared to take the road less travelled in 2021. Gary Palmer, CEO of Paragon Lending Solutions Most investors track the well known and heavily traded commercial, industrial and residential markets.
Trump has kept his promise on judges Original
Elections have consequences. The consequences of the 2016 election have demonstrated once again the importance of that old adage following the death of Justice Ruth Bader Ginsburg and President Donald Trump’s nomination of Judge Amy Coney Barrett to our nation’s highest court. With the passing of Justice Antonin Scalia in early 2016, the Supreme Court was front and center as an issue for both the presidential and Senate elections of that year. A decisive factor in the election of Donald J.
Are we in for another Pelosi 'redistribution recession'?
As George Santayana famously said, “Those who do not remember the past are condemned to repeat it.” The Democrats and Speaker Nancy Pelosi are hoping your memory is very short. The stimulus package they are currently proposing is eerily similar to the one they passed in 2009, with promises of economic growth. That package failed miserably. In 2009, Pelosi pushed through the American Reinvestment and Recovery Act, a $787 billion stimulus that ballooned to $831 billion.
Pragmatic advice for landlords, tenants in a contracting economy
Some of South Africa's largest landlords have taken a pounding over the last two months with even our largest retailers, like Massmart, seeking rental relief. While this serves as a cautionary tale, smaller property owners and tenants can take action now to ride out the bumpy months ahead. Gary Palmer, CEO of Paragon Lending Solutions As the reality of job losses begins to take its toll, many tenants will face the reality of not being able to pay their rent.
There hasn’t been much risk since 2008
JOHANNESBURG – Alternate lending, including fintech offerings, have a vital role to play in the future of our economy. But in the current environment, there is a cautionary tale for both want-to-be lenders and consumers. In a downturn economy, there are deals to be had – but at what price? The contracting economy as well as the prominent global success of a few fintech start-ups has encouraged a plethora of new alternate lenders in the local market.
OPINION: Mezzanine finance good for growth
This is especially the case when it comes to growth finance, with many business owners unaware of products such as mezzanine finance, and, even if they know about it, they are unaware how to access it. In contrast, trends in the US show non-traditional lenders investing more and closing bigger deals than the banks. And although it’s beyond doubt that there is still money to be had in the local market, most business owners simply don’t know where to find it.
How to bounce back from a bad financial record - especially if you run your own business
As the markets continue to tighten more companies are looking for working capital to keep their operations going, business owners who have experienced financial difficulty and have defaulted on loans in the past often assume they will be dismissed out of hand by lenders. 1. Inertia is not an option A good credit rating is worth its weight in gold.
A blemished financial record need not be insurmountable
1. Inertia is not an option A good credit rating is worth its weight in gold. It is a sizeable measure of your worth in the eyes of lenders and will affect your ability to sign leases, negotiate new debt and secure finance for assets. Lenders obviously see the person who has a squeaky-clean past as first prize. However, coming in at a close second is someone who may have had some difficulty in the past, but has done whatever they can to rectify the situation.
Standing strong in a tough economy
The mid-term budget saw treasury more than halve its economic growth forecast for 2018 to just 0.7% after the local economy dipped into a recession in the first half of the year. GDP hasn’t expanded by more than 2% annually since 2013 and the official unemployment rate sits at 27%, although reality suggests a much higher figure. Many businesses are looking to shore up their operations and weather the storm.
Increase in tenant fraud is taking its toll
An unintended consequence of the sluggish economy has been a spike in the fraudulent behaviour of would-be tenants who are desperate to sign a lease, compromising the ability of the property owner to secure future growth finance. Tenants feeling the pinch When speaking to both clients who own properties and to other lenders who have financed property portfolios, we are hearing about a marked increase in rental fraud.
There is a Republican plan to cover pre-existing conditions - and the House already passed it
Here is a fact that Democrats are desperately trying to keep from the public: Not only do Republicans support providing health insurance coverage for those with preexisting conditions, but Republicans in the House actually passed legislation that did just that. The American Health Care Act included an amendment that Rep. David Schweikert, R-Ariz., and I introduced. It ensured that anyone with a preexisting condition could purchase health insurance.
First Rule Of Securing Growth Capital: It’s Not About The Product
A common mistake made by entrepreneurs looking for growth capital is fixating on which product they should choose. When looking to finance growth in your business, the decision process should be focused on longer-term strategic priorities and then finding a partner to help you access the right product to deliver on those goals. At the outset business owners need to look at their business realities and decide whether they should be looking for debt or equity financing.
Pitching To Lenders - How To Get It Right, First Time
Earlier this year, US research firm, CB Insights over 100 start-ups to better understand reasons for early failures. The most obvious – no clear market need, not having the right team, and running out of cash – featured prominently. However, poor marketing was also a top contender as a reason for failure. This doesn’t only relate to difficulty in raising awareness of the product or service, but speaks to an inability to position the company in the eyes of potential lenders and investors.
Depressed Economy Leading To Business Bust-ups
News that our GDP had shrunk by 2.2% in the first quarter of the year, coupled with downward revisions of growth forecasts, are casting a pall on the investment climate. Deals are not only drying up, but there has been an increase in business partnerships bearing the brunt of the economic pressure. We have had a number of attorneys and accountants refer dissatisfied partners to us who are looking to exit partnerships.
Selling Your Business? How To Exit In Style
Preparing to sell a business you have put years of work into, or even built from scratch, can a be a daunting prospect. Aligning the disconnect between what you think it’s worth versus what a buyer is prepared to pay is just one of the challenges. Like the Scout’s motto says: Be Prepared. A business owner needs to make sure their business is sale-ready at all times.
Cape water crisis highlights larger challenge for property owners and developers
Landlords and commercial developers will need to urgently rethink sustainability issues if they want their properties to remain attractive. With the water crisis in the Western Cape the most immediate problem at hand, it’s highlighting a bigger environmental trend that will need to be addressed sooner than most think.
Lack of specialist lending advisors cripples entrepreneurial growth
When an individual has money to invest they can access any number of certified investment advisors who will carefully analyse their needs and advise on the best way forward. However, when it comes to debt financing, especially growth finance, South African business owners are receiving none of the same treatment.
Lack of specialist lending advisors cripples entrepreneurial growth
When an individual has money to invest they can access any number of certified investment advisors who will carefully analyse their needs and advise on the best way forward. However, when it comes to debt financing, especially growth finance, South African business owners are receiving none of the same treatment.
Don't use your business as piggy bank
While we spend a good portion of our time working out, eating right and minimizing personal risk to avoid the previous, getting too clever in avoiding the latter could cost business owners in the longer-term In an effort to keep taxable earnings down, many business owners will run personal expenses through their business. Travel, cars, dining out and sports club memberships may be legitimate deductions in some instances, but many business owners simply go overboard.
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