Small business ombudsman calls review into supply chain financing

Is your small business struggling with cash flow and financing? If so, you might be interested to learn that Australia’s small business ombudsman, Kate Carnell, has announced a review into the impact of supply chain financing on small businesses. The review will examine: How small businesses can use supply chain finance to better manage their [...]

By |2019-10-31T21:47:00+11:00October 31st, 2019|Business|0 Comments

Big prize on offer for innovative small businesses

Westpac is giving small businesses the chance to win $50,000 and professional support to grow their business. The sixth-annual Innovation Challenge is aimed at start-ups, scale-ups and entrepreneurs that want to take their small business to the next level. Entrants have to use data to create a solution that can solve a business problem specific [...]

By |2019-08-24T16:38:26+10:00August 28th, 2019|Business|0 Comments

Small business sector gets free business lending guides

Accountants, brokers and financial advisers now have a new tool to help their small business clients find the right funding and get their applications approved. The Business Funding Guide, which has been developed by the small business ombudsman and Scottish Pacific Business Finance, is aimed at finance professionals because of the role they play in helping [...]

By |2020-12-21T23:44:37+11:00August 1st, 2019|Business|0 Comments

Time will tell how new banking rules affect small business

Australia’s small business ombudsman has promised to monitor the new Banking Code of Practice, which took effect on July 1. Kate Carnell said that while the new code is an improvement on previous versions, time will tell whether it addresses the imbalance of power enjoyed by the banks. “We will be watching very closely to [...]

By |2020-12-21T23:44:42+11:00July 4th, 2019|Business|0 Comments

Small businesses could get $1m compensation for financial complaints

Has your small business been impacted by financial misconduct during the past 11 years? If so, you should file a complaint with the Australian Financial Complaints Authority (AFCA), according to Australia’s small business ombudsman, Kate Carnell. From 1 July, eligible small businesses will have a one-year window to notify AFCA about complaints dating back to [...]

By |2020-12-21T23:44:42+11:00June 19th, 2019|Business|0 Comments

Victorian small businesses receive a $50m capital injection

The Victorian government will establish a fund to help small businesses and medium-sized businesses access capital. The Victorian Business Growth Fund aims to "create thousands of jobs by investing in established Victorian businesses with compelling potential for growth and jobs creation”. Victoria’s state government will contribute $50 million to the fund, which will be run [...]

By |2020-12-21T23:44:42+11:00June 10th, 2019|Business|0 Comments

Scott Morrison promises more finance, lower taxes for small business

Now that the Coalition has been returned to power, the Morrison government’s promises to the small business sector have taken on fresh significance. Ahead of yesterday’s election, the government said it would support small businesses by: Paying them on time Lowering their taxes Expanding their access to finance Reducing red tape Making it easier for [...]

By |2020-12-21T23:44:43+11:00May 19th, 2019|Business|0 Comments

Bank lending crackdown harming small business

If you think it’s getting harder to qualify for a small business loan, you’re not dreaming. Small businesses are finding it harder to qualify for business loans, according to the Reserve Bank of Australia. Banks have previously made it harder for individuals to qualify for home loans – and now this stricter stricter regime has [...]

By |2020-12-21T23:44:45+11:00May 10th, 2019|Business|0 Comments

Yozo gives small business another way to borrow money

A new lending platform is promising to distribute loans to approved small business borrowers in just 48 hours. Small businesses can now obtain fast unsecured business loans via a new online lending platform. Yozo has built a calculator that allows small businesses to gauge their unsecured borrowing capacity in under a minute. When a small [...]

By |2020-12-21T23:44:45+11:00May 9th, 2019|Business|0 Comments

Small businesses get another payment option

Small businesses that have a Commonwealth Bank account can now use Apple Pay. Commonwealth Bank has made Apple Pay available to all its business card holders. CBA previously rolled out Apple Pay to its regular customers in January. Since then, the bank has experienced a 400% increase in mobile payments. “We are extending Apple Pay [...]

By |2019-05-02T19:11:12+10:00May 2nd, 2019|Business|0 Comments
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