Real time accounting offers many benefits for business owners! It is something we implemented at…
Is Australian Small Business Facing a Cashflow Crisis?

The recent Scottish Pacific SME Growth Index Survey suggested an increasing number of small businesses in Australia are facing a cashflow crisis.




Given the importance of small business to the Australian economy, if not resolved the implications for the country could be serious!
Why Has The Cashflow Crisis Arisen?
Small Business Turning Away From Major Banks!


Why are SME's Choosing Non-Bank Lenders?
The Banking World and Business World - Clash of Cultures!
The Business owner’s world is dynamic – they need to be nimble and responsive to survive!
However, increasingly, they find the policies, timelines and requirements of the major Lenders are out of sync with the world in which they exist.
Not that we should discard the prudent lending policies of the major Banks – this would be a recipe for disaster!
However, there is no doubt some processes used & mindset, need to change to meet the needs of small business.
Traditional Bank Funding is Still Available!

The Major Banks Still Have a Critical Role to Play
Despite the criticism to which they have been subject, the major Banks remain the main source of funding for small business in Australia.
There are many good quality Bankers within the traditional Banks, who are customer focused and prepared to assist.
Indeed, the majority of our clients are still funded by the major Banks.
That said, the increased competition from the new entrants is healthy and will drive innovation and change.
At The 500 Group, we work with both the traditional Banks and the newer players in the market.
The choice of supplier being driven by responsiveness, and critically, the ability to satisfy the customer needs.
If you would like to learn more don’t hesitate to get in touch.