A report published in November on issues facing Victoria's manufacturing industry, Finance for Growth, Agenda for New Manufacturing, says a common complaint among manufacturers is that their banks have not kept pace with the demand for more sophisticated finance products for companies that are operating in the global market. The report, commissioned by the Victorian Department of Manufacturing and Export, is based on a survey by Deloitte Touche Tohmatsu.
In recent years banks have marketed their services to the so-called middle market (the businesses that fall between the top 500 or so companies that make up the corporate market and the hundreds of thousands of small businesses) by promoting their expertise in particular industries. They have industry teams that bring specialist knowledge to their discussions with chief executives in industries such as manufacturing.
