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1.Market Observations, 8.Was Sticky

5 Sept 2019 (AFR) – Cash flow crunch zaps nation’s engine room

(5 September 2019, AFR, Special Report p2, Jonathan Porter)

Business lending by banks (RBA, APRA, AFR)

Business lending by banks (RBA, APRA, AFR)

‘Australian Small Business and Family Enterprise Ombudsman Kate Carnell says that the nation is in “serious trouble” if we can’t help small businesses grow in a flat economy. According to the RBA’s charts, bank lending to small business has been flat for the past five years, while lending to big business has increased by about a third. “If we can’t get lending working in the SME space, the economy can’t grow. Back in 2017, the Reserve Bank said it’s not the absence of entrepreneurial spirit, it’s the absence of entrepreneurial finance holding back the small-business part of our economy.’

Read more at AFR.com (might need AFR login, or try: AFR.com/trial)

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