According to a new report, Australian businesses are expecting slower growth in inventories and capital investment for the September 2010 quarter.
According to Dun & Bradstreet’s Business Expectation Survey, access to business finance remains a critical issue for many companies. Approximately 20% of these businesses stated they had less access to credit in the last quarter. These results confirm figures from the RBA, which also revealed a decline in business activity by 7% over the year to April 2010 and a decline in business borrowing by 0.4%.
According to Dun & Bradstreet, an aversion to debt among some businesses and difficulties securing business finance from the banks may inhibit future growth.
The survey also showed that employment, profit, sales and selling price expectations has fallen since the June quarter, but still remain positive and well above GFC levels.
Australian businesses in need of business finance to grow their operations, or to pay salaries or inventory should consider alternative business cashflow solutions. If you are having difficulty securing funding from your bank due to the tightening lending criteria, speak to the commercial finance team at Intellichoice today on 1300 55 10 45. Intellichoice has access to other business cash flow solutions to suit your needs, including invoice finance, trade finance, inventory finance and equipment rental.
