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The Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell today welcomed the announcement of an Australian Business Growth Fund, a recommendation in the ASBFEO’s Affordable Capital for SME Growth report. “Our report identified the need to address a critical funding gap for long-term, patient capital to enable our up-and-coming, high growth potential small […]
Around 9 out of 10 Australian SMEs are frustrated about their business funding, naming onerous loan conditions, having to provide property security and a lack of flexibility as their major concerns. These are the findings of the latest SME Growth Index, conducted independently by banking market analysts East & Partners, on behalf of national working capital […]
Australia’s small to medium enterprises (SMEs) are bracing for a double whammy of disruption from the back-to-back Easter/Anzac Day public holidays coupled with a Federal election. 59% of SMEs say major political events such as elections have impacted their business in the past. 27% of SMEs expect the 2019 Easter/Anzac holiday period to negatively impact […]
The challenge of securing bank finance is seeing a growing number of small and medium enterprises (SMEs) turn to online lenders. One in four SMEs have been knocked back for bank finance Among SMEs rejected by a bank, one in three have turned to family/friends or a credit card for funding Of those SMEs that […]
Staying with a Big 4 bank could cost you $6,007 in extra interest on a $250,000 business loan over 5 years The average Big 4 business loan rate is 88 basis points higher than the average of the challenger banks The Big 4 failed to pass on the 100 basis point cut to the official […]
The accounting app Xero share their Small Business Insights with us to shed light on what small businesses should be aware of, which is now made especially relevant with the federal budget announcement later today. The anonymous and aggregated data is collected monthly from hundreds of thousands of Xero’s Australian subscribers through the Xero platform. […]
Online lender and invoice finance solution company, Waddle, yesterday announced it has secured AUD$4 million in Series A funding. The funding round was secured from experienced technology investor, Allectus Capital Limited (Allectus), and will be utilised to aggressively scale the platform in Australasia and accelerate the integration of Waddle’s global financial services partners. The raise […]
As the end of year draws closer, it brings a great opportunity for small business owners to take time to reflect and plan for the year ahead. The Westpac Small Business Report in collaboration with Deloitte found that small businesses have grown modestly in revenue terms relative to this time last year. While some are […]
Forex trading has countless advantages as compared to stock trading or commodity trading. One of the big things about Forex trading is the fact that you have the flexibility to work from wherever you want to, work the hours you want because the FX market trades around the clock 5 days a week. This way, […]
Three tips from global payment solutions specialists.
Don’t buy things just because you think it’s a tax lurk.
Corporate lawyer Alyce Tran had a dream to make an extra $50,000 from her fashion blog, The Daily Edited, which she co-founded with her friend Tania Liu. After an unsuccessful attempt to launch an online clothing line, the pair introduced their personalised accessories business, which today turns over more than $15 million a year – […]
In a perfect world, suppliers would prefer to be paid cash up front. However, in reality, the world works on credit. Trade credit is inevitable and so is the debt that comes with it. For most businesses, trade credit is essential for growth as businesses don’t have to pay suppliers on the spot but rather with […]
MYOB has teamed up with BPAY to offer a new invoice payment method, which was rolled out to MYOB customers last week (May 15), allowing businesses to get paid up to four times faster. MYOB Head of Product Marketing, Kim Owen-Jones said that giving customers the choice of BPAY as a payment method would provide […]
Seeing Machines has gone from strength to strength since 2000, when the business was founded as part of an association with Australian National University. Today it is at the forefront of driver monitoring technology and has more than 200 staff and operations across the world; including the US, the UK, South America, Europe and in […]
Obtaining finance can be challenging for any business but it is an acute difficulty for micro and small businesses in their start-up phase. Having the Best Business Idea in the World won’t necessarily be enough to convince sceptical, risk-averse banks to approve a loan, especially if the business owner doesn’t have a proven track record […]
There is no doubt the big banks remain major players in the SME lending market however, there has been a steady rise in the number of non-bank lenders offering fast and flexible lending options in this space. They are able to move much faster than the traditional banker with their unique ‘fintech’ approach, giving small […]
Considering the small business sector employs nearly half the national workforce and contributes around $380 billion to Australia’s GDP [1], it’s easy to see why it’s frequently referred to as the ‘engine room’ of the economy. Like all engine rooms, the sector requires sufficient fuel – in this case, working and growth capital – to […]
With companies increasingly defaulting on payments, going into administration and getting wound up by the ATO, small to medium businesses are more vulnerable than ever to bad debtors. To safeguard their bottom line against slow and non-payers, it is necessary for businesses to perform due diligence on their customers and otherwise maintain an effective credit management system. Our […]
