Leading financing company OptiPay has seen a 25% increase in its utilisation rate for invoice financing, showing Australian SMEs are in dire need of cash. “More of our clients are needing to access their invoice financing facility to free up cash for their business,” says OptiPay CEO
It is often said small business is the engine room of the economy. We must ensure small and family business can fire on all cylinders – not have a cylinder taken out. We need to get the risk and reward balance right, make small business
Over the last two years, growth in wages and salaries have not kept up with rises in the cost of living. The Australian Bureau of Statistics estimates the cost of living for the average “employee household” rose by 16.7% in the two years up to December 2023.
The Australian credit and charge card market is set to grow by 7.1% in 2024, supported by rising consumer spending. With a strong payment infrastructure and burgeoning e-commerce landscape, credit and charge cards are becoming increasingly favored among Australians, despite looming competition from buy now
The latest report card on the economy will be no surprise to small business owners. Economic growth is barely limping along. The combination of sluggish growth, persistently poor productivity, tight labour markets, supply chain challenges, above-target inflation impacting on higher input costs and customer demand,
Many younger Australians and lower income households are spending up to one-quarter of their net income on groceries, according to responses so far to the consumer survey which is part of the ACCC’s Supermarkets Inquiry. Households have also told the ACCC that to reduce their
The National Retail Association has called on the Federal Government to look seriously at the crisis confronting Australian retail, rather than celebrating the Taylor Swift sugar hit to retail sales in February. National Retail Association Director Rob Godwin said it would be a mistake for
Even in a stubborn cost-of-living crisis, it seems there’s one luxury most Australians won’t sacrifice – their daily cup of coffee. Coffee sales have largely remained stable, even as financial pressures have bitten over the past few years. So too have prices. Though many of us became upset
The Council of Small Business Organisations (COSBOA) has recommended that legislative wage increases should be between 2-3% for this year’s determination. The Australian Small and Family Business Ombudsman recently found in its Small Business Matters report that: 43 percent of small businesses were not making
Ballooning wages bills, energy costs and insurance premiums are driving a pessimistic outlook for Australia’s retail businesses, promoting calls for the Government to put the cost-of-trading on the Federal Budget agenda. The National Retail Association today released its 2024 Retail Sentiment Report, which has revealed
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