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NSW Govt expands JobSaver program to cover more businesses crn.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crn.com.au Daily Mail and Mail on Sunday newspapers.
Date Time Temporary insolvency protections sensible as lockdowns continue The Australian Small Business and Family Enterprise Ombudsman Bruce Billson has urged the Federal Government and regulators to consider the reactivation of temporary insolvency protections, to support small and family businesses doing it tough in lockdown. Mr Billson says the re-introduction of measures, such as the extension to existing safe harbour provisions, would provide temporary additional protections for small and family businesses that may be trading insolvent due to lockdown trading restrictions. “Small businesses aren’t like a light that can be switched on and off,” Mr Billson says. “With full respect for the need for public health orders, lockdowns do have a significant and immediate impact on small and family businesses and a cumulative effect when those businesses have endured multiple lockdowns. ....
Judo Bank co-founder and co-CEO Joseph Healy. Banks are neglecting the lending needs of small businesses and startups, with an estimated $120 billion in unmet need outstanding, according to Judo Bank chief executive Joseph Healy. A submission from Healy, on behalf of the SME-focused neobank, to the Senate Committee on Australia as a Technology and Financial Centre, suggested a failure of the big banks to meet the requirements of the small business community. It called out a “significant and unhealthy bias” towards mortgage lending, while SMEs and startups struggle to secure loan funding. “The genesis of Judo was a belief that there was a market failure in the provision of credit to the SME economy by the banking system,” Healy said in the submission. ....
Mark Bouris. Source: supplied. Sydney-based entrepreneur Mark Bouris is calling on politicians to take a 20% pay cut in a show of solidarity with small businesses struggling due to public health orders. Bouris said in an Instagram video that he hadn’t heard any politician acknowledge the fact that they have been receiving a full paycheck while small businesses are expected to accept a sharp reduction in their income. “I’ve taken it upon myself today to actually make a statement about what I think is happening to the small business community in Australia but particularly right here in Sydney,” Bouris said. ....
APRA urged to consider business loans in banking review theadviser.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theadviser.com.au Daily Mail and Mail on Sunday newspapers.