The Australian Financial Review reported private businesses recorded sales rises of 6.8% and profit rises of 5.8% leading up to October 2009, largely due to prudent fiscal management during the global financial crisis. This was evident by the debt ratio which fell from 41.3% in February 2007 to 31.2% in September 2009.
One-third of businesses made staff redundant in the past year, while other businesses altered working hours for staff and forced employees to take unpaid leave.
PwC partner Gregory Wills stated that there was now a "real risk that [businesses] won't be prepared for the upturn" in the economy.
If you are in a position to grow your business, your cash flow is tied up in unpaid invoices, or the bank's strict lending criteria is holding you back, we recommend that you speak to Intellichoice about alternative lending solutions - including invoice finance, trade finance or inventory finace. We can help you:
- Improve on cash flow and help your business run smoothly
- Access funds quickly to capitalise on business opportunities as they arise
- No propety security required
- Improve your buying power
- And more
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