As reported in The Australian on the 31 January 2019, Small business Ombudsman Kate Carnell has called on the Royal Commission, policymakers and regulators to work harder to get Small/Medium businesses on a firmer footing against banks or risk a “credit squeeze”.
Ms Carnell’s comments come as latest research show startling results about small businesses’ access to credit and their frustration with banks.
Ms Carnell said despite the Royal Commission, the banks were still shying away from making real commitments to small business customers. The Ombudsman said she would like to see confidence being put back into the system in terms of how to lend to small businesses appropriately and fairly.
Apricity Finance believes small business is the backbone of our economy and should have financial support in their day to day business and growth opportunities. Apricity specialises in finding flexible finance solutions. By financing up to 95% of approved invoices upfront, we help successful businesses grow and remove the stress of waiting for big customers to pay their bills.