Avenue Bank, a digital business bank with plans to shake up the SME lending sector, has been granted a restricted banking licence by the Australian Prudential Regulation Authority (APRA).
Read More
After going national with their Green Loan, CommBank continues with its zero emissions initiative by offering a green loan for commercial properties.
Read More
In a bid to help small businesses struggling to keep afloat amid ongoing lockdowns and border closures, the federal government has announced it will be expanding the eligibility criteria of the SME Recovery Loan Scheme.
Read More
Though the current lockdowns pose a fresh batch of challenges for Australian businesses, investment in new assets has skyrocketed, with CBA data revealing that asset finance lending was up 20 per cent in FY21.
Read More
NAB has launched a specialised business financing product for their Muslim customers, the latest result of a program that began five years ago.
Read More
The NSW government has unveiled a support package for Sydney households and businesses struggling to stay afloat as the state enters its third week of lockdown.
Read More
With Sydney once again in lockdown, small businesses in NSW may be one of the hardest hit groups. Restaurants, bars and cafes closed their doors over the weekend as stay-at-home orders were extended across Greater Sydney - and they may remain shut for at least the next two weeks.
Read More
Commonwealth Bank has announced it’s partnering up with fintech lending platform Waddle to expand its business banking portfolio to invoice finance.
Read More.jpg?width=324)
Given the rollercoaster of a financial year that small businesses have been through, getting your corporate tax return sorted in 2021 could be a trickier process than usual.
Read More
The financial impact of COVID-19 on small businesses may be lessening, but new research shows other pressures including cashflow and utility bills have crept up back to pre-pandemic levels. The report from accounting platform MYOB released this week, found that cashflow and the cost of utilities were top concerns for small to medium-sized enterprises (SMEs) over the past six months, felt by 32% of respondents. The bi-annual MYOB Business Monitor also revealed a growing number of SMEs have concerns around accessing business finance (up 6%) and dealing with late customer payments (up 4%). These two money worries saw the biggest jump in percentage points since December last year. Meanwhile, 35% of SMEs said they still feel pressure from the pandemic, but that figure is down 20% compared to the same time last year. The report is based on a survey with more than 1,000 small business owners and operators. MYOB’s general manager for SME, Emma Fawcett said small business issues that temporarily fell off the radar during the pandemic have now returned. “It’s an unfortunate return to ‘business as usual’ for the country’s 2.29 million SMEs with 14 of the 16 business pressures measured by the MYOB Business Monitor increasing in the last six months. This demonstrates that as COVID-19 pressure subsides, other business pressures increase,” she said. “SME concerns with payment times and old bugbears associated with physical presence - such as utilities like electricity and gas - are back on the table.”
Read More