As Australia's largest leisure boat financier, MitchCap has been endorsed by both BIA and BIAV as the Preferred Finance Company for the marine industry. This endorsement underscores MitchCap's commitment to fostering growth and stability within the sector.
A cornerstone of this partnership is the launch of the Industry Financial Skills and Awareness Program. This initiative is designed to equip industry members with essential financial knowledge and resources, thereby strengthening their commercial acumen. The program will feature webinars, data insights, and on-the-ground advice covering topics such as business valuation, cost management, and understanding finance options for dealerships and customers.
Financial backing for the program includes a fixed annual sponsorship contribution from MitchCap, supplemented by variable contributions for each boat, motor, and trailer financed for members nationwide. These funds are earmarked to support and expand the vital work undertaken by both BIA and BIAV, ensuring the program's success and sustainability.
Andrew Scott, CFO of BIA, highlighted the significance of this collaboration, stating that MitchCap's track record of supporting the industry demonstrates a deep commitment to the success of boating customers. He emphasized the importance of representation, advocacy, and resource sharing across members, and the role BIA plays in facilitating this.
Steve Walker, CEO of BIAV, echoed these sentiments, noting that the strategic focus on financial and commercial skills is particularly powerful in the current economic climate and with the evolving demographic of boat OEMs and dealerships as the next generation steps up.
Paul Mitchell, CEO of MitchCap, expressed enthusiasm for the partnership, stating that after three successful years partnering with BIAV, the company has redefined its industry contribution beyond sponsorship, based on member feedback. He expressed pride in taking the program national with BIA and being recognized as the Official Finance Company of the Marine Industry across Australia.
Beyond financial education, MitchCap is investing in the industry's future by providing tailored floorplan and distribution finance designed for marine dealerships. The company will also support members with market insights and data-driven decision-making, maintaining a visible presence at flagship events like the Melbourne and Sydney Boat Shows, and actively participating in BIA and BIAV board meetings.
This partnership represents a true investment in the people, businesses, and associations shaping Australia's marine future. By improving financial literacy and providing essential resources, MitchCap, BIA, and BIAV are building stronger, more resilient businesses that can thrive long-term.
