Big banks welcome government competition for small end of town

Australia’s biggest banks insist they welcome the prospect of looming lending competition from the federal government’s proposed $2 billion small business loan plan. Under the policy unveiled by Treasurer Josh Frydenberg on Wednesday the government will establish a $2 billion securitisation fund which it will use to buy pools of small business loans from smaller banks and … Read more

‘The system is broken’: government poised on small business fund

The Morrison government is flagging imminent action to ensure lending to small business continues as bank funding tightens further in the wake of the financial services royal commission. Small business minister Michaelia Cash told Fairfax Media the banks appear to have tightened their lending to smaller companies. “What is consistently raised with me is access to finance,” … Read more

Capital rethink: Business leaders call for new finance options

There is a renewed push by Australian business leaders to provide capital-starved small businesses better access to finance from new sources, including the country’s multi-billion dollar superannuation pool. Visy Industries executive chairman Anthony Pratt on Tuesday pointed to a global financial technology company with Australian links, Greensill Capital, as a new model for delivering working … Read more

Paper-free payments: Australia and NZ work on e-invoicing standard

Paper bills are one step closer to being eliminated, with Australia and New Zealand looking at ways to create trans-Tasman standards for electronic invoicing. The two nations are hoping to save $30 billion over 10 years by driving the adoption of e-invoicing by governments and businesses to achieve more streamlined payments. Digital invoices have been … Read more

Power profits : a comprehensive 9-step framework for reducing electricity costs and boosting profits (book)

Author: Michael Williams Are you experiencing an increase in your electricity costs that is hurting your bottom line? Do you know how the electricity market works and why costs are increasing? Do you want to have a clear and concise framework that you can follow to take control, reduce your costs and increase your profits? … Read more

Broken Pie Chart : 5 Ways to Build Your Investment Portfolio to Withstand and Prosper in Risky Markets (ebook)

Author: Derek Moore Investment outcomes and strategies have changed considerably since 2008. Broken Pie Chart demonstrates the failures of classical diversification and asset allocation, pointing out that the backward-looking methods used by traditional financial professionals will not work moving forward. Derek Moore explains why traditional risk-spreading leads to losses during sell-off periods, and contains risks … Read more

‘Huge advantage’: Senate extends equity crowdfunding legislation

Small businesses across the country can fast-track fundraising after the Senate extended equity crowdfunding to proprietary companies. The passing of the Corporations Amendment (Crowd-sourced funding for proprietary companies) Bill on Wednesday builds on the government’s 2017 equity crowdfunding legislation, allowing businesses to do this without converting to unlisted public company status. Christophe Hoppe is excited … Read more

“They told me I’d be rich”: Why these entrepreneurs have turned down millions from investors

There’s no end to the number of startups and businesses who have done the hard yards and raised millions of dollars in funding, but less well-known are the companies and founders who turn down those same millions. Though it’s often viewed as the ultimate mark of validation for a fast-growing business, there are times (believe … Read more