News & Analysis

Australia is going to introduce US-style insolvency laws for when small companies get into financial trouble

- September 24, 2020 2 MIN READ

The Morrison government will make sweeping changes to the insolvency system to improve the chances of saving small businesses hit by the pandemic. The reforms – which are described as the most significant for three decades – will cover three quarters of businesses currently subject to insolvency, almost all of which have less than 20… Read more »

News & Analysis

Getting paid has turned into a massive $776 billion problem for small business that’s getting worse due to covid-19

- April 20, 2020 4 MIN READ

The time taken to pay small businesses has blown out in the wake of the coronavirus crisis, leading to the SME sector to call for federal legislation to ensure they can manage their cash flow effectively. Research commissioned by financial services firm Scottish Pacific found businesses with an annual revenue of $1-10 million have been… Read more »

News & Analysis

The NSW government is putting around $220 million into land tax relief on commercial properties

- April 14, 2020 2 MIN READ

Commercial tenants hit hard by COVID-19 will have more protection from eviction the NSW government says under a range of new measures in a $440 million land tax relief package announced on Sunday. The measures apply to commercial leases where coronavirus has caused a tenant is in financial distress, including shops, cafes, gyms, hairdressers, restaurants,… Read more »

Opinion

‘Gourmet Farmer’ and small business owner Matthew Evans on resilience and hope in the time of coronavirus

- March 23, 2020 5 MIN READ

Matthew Evans runs his family small business, Fat Pig Farm, near the Huon River in Southern Tasmania with his partner, Sadie Chrestman.  The farm has a market garden, pigs and dairy cows. They’ve been building the business for nine years, and in 2016 launched a cookery school, produce store and restaurant serving their home-grown produce.… Read more »

News & Analysis

Australian banks are giving small business an $8 billion, six-month reprieve on loan repayments

- March 20, 2020 2 MIN READ

Banks will offer small businesses a six-month deferral on their business loan repayments as part of the finance sectors response to Covid-19. Australian Banking Association CEO Anna Bligh said the move will “deliver up to $8 billion back into the pockets of small businesses” across more than $100 billion worth of business loans Bligh said all… Read more »

News & Analysis

BREAKING BACKBONE: Small business insolvencies jump

- November 7, 2019 2 MIN READ

Small business insolvencies have risen 20% over the last quarter, an increase of 8% year-on-year in an ominous sign for the Australian economy, with CreditorWatch CEO Patrick Coghlan saying the latest data is “the canary in the coal mine”. Coghlan suggests the rise in businesses being declared insolvent doesn’t bode well for the economy. Coghlan’s… Read more »