Earlier this month, Australia’s big four banks—Westpac, Commonwealth Bank, National Australia Bank, and Australia and New Zealand Banking Group—announced they will be implementing major changes to small business loan contracts to make them fairer. ASIC Investigation on Unfair Contracts This news comes after the Australian Securities and Investments Commission (ASIC) together with the Australian Small
There comes a time in the life of every business when change becomes necessary for survival. This change might be as straightforward as reducing manpower or adapting new technology. It can also be as complex as restructuring your existing processes and systems. Companies that can quickly identify what needs to be changed and do it
SV Partners recently released the key findings of their Commercial Outlook Report, which revealed the top industries at risk of facing financial distress in the next 12 months. Among the top five are the following industries: Construction Accommodation and Food Services Retail Trade Professional, Scientific and Technical Services Manufacturing The Report also highlighted the top
Debt collection is something that most—if not all—companies undertake at one point or another. Yet, this practice still has an air of mystery around it as many entrepreneurs are reluctant to discuss it. But Slater Byrne Recoveries a Debt Collection in Australia believes that the more you understand something, the more you’ll be able to
Last month, the Australian Taxation Office (ATO) released draft legislation that empower them to report a business’s overdue tax debts to credit reporting bureaus. Kelly O’Dwyer, Minister for Revenue and Financial Services, is confident the proposed law will help the SME sector. However, a growing number of business owners are now concerned that this legislation
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