Tens of thousands of small businesses are facing imminent collapse as revenues tank and they run out of cash. Urgent action is required to avert the disastrous consequences which will follow. Sensible government intervention like travel bans should flatten the coronavirus curve but we need to also need to flatten the curve of small business […]
The extensive media coverage of the Royal Commission’s findings contain very few references to the SME sector. This is possibly because the report contains only six recommendations, four of which relate solely to the farming sector. We briefly discuss these recommendations then explain why for the foreseeable future SMEs can expect continued pain before exploring […]
The ABA has just released its new and improved Code of Banking Practice, the fourth version since 1993. But bank behaviour has not improved over this time which lends weight to the view these codes are not worth the paper they are written on. So it would be understandable, but unfortunate, if SMEs thought this […]
Borrowers would be wise to ensure they understand how the changes taking place in the economy & the banking sector in particular will impact on their borrowing arrangements. This piece highlights the main areas of concern, explains how the banks are responding and offers six tips to safeguard your borrowing arrangements. HOUSEHOLD DEBT. At more […]
Take theBankDoctor’s two minute quiz to find out. SMEs are finding it difficult to get bank funding yet banks keep telling us they are keen to lend. So what’s going on? Are the banks being too tough or do small business owners just have unrealistic expectations? Well in fact, both statements are true. There’s no […]
Businesses owners continue to enjoy the benefits of record low interest rates and with some experts predicting the Reserve Bank’s official cash rate could fall to as low as 1.5%, it’s understandable why you might adopt a “do nothing” stance. The RBA could reduce the Cash Rate further in the months ahead but that doesn’t […]
We regularly hear about how SMEs are powerless when it comes to dealing with banks but recent research conducted by East & Partners for Scottish Pacific highlights a number of ways in which SMEs can take greater control of their banking destiny. The research suggests that only 20% of SMEs review their banking on a […]
A bank manager who is a raving fan can do wonders for you but on the other hand if you get offside with them your business is never going to get the treatment it deserves. Over many years on both sides of the banking fence I have observed the behaviours of customers which turn bankers both on and off. Every SME […]
This Fairfax Media article suggests one way of enhancing your prospects of getting a bank loan to buy a business is to buy a business which has a property attached to it. Whilst its true banks do like to lend against property we offer a cautionary note that most small business owners have a limited capacity […]
Although the big banks still dominate the SME market, business owners are switching to regional banks in increasing numbers. Small business owners continue to be the most disadvantaged sector when it comes to dealing with the banks. East & Partners latest Business Banking Index survey, which monitors business customer behaviour towards banks, found SMEs (turnover […]
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