How is Dallas' business environment evolving?
The business environment remains favorable. The diverse makeup of our local economy has allowed us to continue to evolve and grow despite headwinds such as rising interest rates and slowing certain industries.
What items do you advise your clients on?
Financial forecasting and planning
The rise in interest rates wasn't surprising, but they rose quickly and businesses had to spend more time preparing to operate in a higher-cost environment. Everything became a real-time discussion for clients, with a focus on managing debt levels and fixed versus variable interest rates.
It was also a time when companies performed multiple forecasts to ensure they had enough liquidity to support their operations. Financial forecasting is relevant now more than ever, not only because it gives clients a better understanding of the future, but because it's also a healthy habit that helps build and maintain a growth mindset, even during difficult times. It has become important. As interest rates, the economy, and the business environment remain in flux, we encourage business owners to always highlight their expectations.
business planning solutions
M&A and ownership transition activity continues to be a hot topic for Dallas businesses. Excess equity and debt capital and a favorable business environment continue to open opportunities for both buyers and sellers in Texas.
At UMB, we specialize in helping business owners evaluate options for exit or debt to simplify their ownership structure. We have experienced professionals who can help business owners achieve their financial goals, and we also offer a model that can provide companies looking to acquire another business with the financing they need. Our ability to prepare companies in a way that feels seamless from the client's perspective is invaluable to clients who require full-service advice and execution.
What is UMB's approach in 2024?
With a history of over 110 years, this philosophy has remained unchanged and we continue to grow with a customer-first mentality. This year, that includes more than just revenue growth, it also includes the Dallas team.
We recently added industry veteran Todd Burns as market president and will continue to add new bankers to our approximately 100 local employees, including the leader of our middle market team.
We also work with more private equity firms and family offices. From fund servicing management and limited partner subscription lending offerings to portfolio company capital and support, we are uniquely positioned to provide game-changing levels of support and service.
conclusion What are your thoughts?
The lending environment in Texas continues to be strong and we are growing our market share, proving that our customer-first approach is winning in this market. A client recently described UMB as having a “get it done” attitude. Those words perfectly embody our culture and drive to continue supporting businesses throughout Dallas-Fort Worth.
