Home topics finance Featured Finance Featured The essential guide to obtaining small business funding Loren Webb August 1, 2019 A Business Funding Guide that aims to tackle the funding crisis faced by Australian small businesses has been developed and launched by Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) in partnership with Scottish Pacific Business Finance. The guide is primarily written for accountants, bookkeepers, brokers and other financial advisers, to help their small business clients find the right funding and increase their likelihood of having funding applications approved. Ms Carnell acknowledged the important role Chartered Accountants have in guiding successful small businesses during the launch of their Business Funding Guide on Monday. “The biggest barrier for small business growth is access to finance,” Ms Carnell said. “About a third of small business owners have had their applications for bank loans rejected. Historically 83% of small businesses have relied on major banks for their funding requirements, but that is changing. “Many more have not bothered to apply as they have been told that unless they have significant equity in real estate their application will fail. “That’s why it is essential that small businesses understand the range of financial providers and products on the market – the big four banks are not the only game in town!” Kate Carnell, Australian Small Business and Family Enterprise Ombudsman (ASBFEO) This is reinforced by previous findings from the Australian Taxation Office that the primary source of information and advice when starting in