The Mortgage and Finance Association of Australia (MFAA) has today announced the release of the MFAA Business HealthCheck - a unique diagnostic tool, developed in conjunction with one of Australia’s leading business consultancy groups, Business Health

“The MFAA HealthCheck will provide MFAA members with the opportunity to gain an objective assessment of the operating ‘health’ of their business,” Phil Naylor, CEO of the MFAA, said.

“The HealthCheck is an industry first and available exclusively to MFAA members. It will bring great benefit to our members as they strive to successfully manage their businesses in today’s challenging economic environment.”

Mr Naylor said the MFAA has enhanced its suite of services with the inclusion of a best practice HealthCheck diagnostic, and will further lift the level of professionalism of the industry and promote business excellence in the broking marketplace.

Through HealthCheck’s simple, easy to follow process the business owner is asked a number of carefully constructed questions about their business. The web based application only takes around 40 minutes to complete and allows the owner to choose the time that best suits them to complete.

Results are available online within two days, while a hard copy is prepared and mailed within five days.

“The HealthCheck report, not only benchmarks the business against the general broking industry, but also contains a host of information and ideas about what the owner can do to improve their overall efficiency and profitability,” Mr Naylor said.

Rod Bertino, a Business Health principal welcomed the opportunity to collaborate with the MFAA and assured its members that support was available at all levels.

“When the MFAA asked us to consider this option we were happy to include it, as, through the original pilot program we conducted with the Association, we could see a genuine interest from members in learning as much as they could about their industry’s best practices,” he said.

“The owner also has the option to speak directly to a Business Health principal about their results and possible next steps.”