CFO Part Time

We need banks not building societies!
With the royal commission final report delivered, its findings reflect the need for cultural change.

What can’t be allowed to happen is the curtailing of funds to the SME's. Australia needs robust and vibrant SME's who have access to debt solutions that aren't tied to a falling property market. Banks must not be further restricted in lending to SME and take on risk to continue to provide funds to SME's. If the outcome is further restrictions SME's will suffer and jobs will be lost.

"According to Digital Finance Analytics’ 2017 SME Survey, unsecured business loan applicants now face a 74% rejection rate, up from the previous year, where businesses had a 67% likelihood of being rejected by traditional lenders." https://lnkd.in/g7URwQD

Shane Smith on LinkedIn: "We need banks and not building societies! "According to Digital Finance Analytics’ 2017 SME Survey, unsecured business loan applicants now face a 74% rejection rate, up from the previous year, where businesses had a 67%...

CFO Part Time partners with organisations to improve business systems, cashflow and profit. We focus on the future, and collaborate with you to develop relevant and effective strategies for business growth.

Don't let your business fail!

In the latest report from ASIC,

64 percent of companies entering external administration had less than 5 employees. Fifteen percent had 5-19 employees. This data shows that 79 percent of corporate insolvencies in 2014-15 were small businesses.

85 percent of collapsed businesses in the last financial year had less than $100,000 in assets and 41 percent of failed companies had estimated liabilities of $250,000 or less.

The top three nominated* causes of failure were:

44%—inadequate cash-flow or high cash use

42%—poor strategic management of business

34%—trading losses.

If your business is suffering cash flow issues or you don't feel confident in the strategic financial management of your business, contact CFO Part Time to see how we can help you.