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Temporary insolvency protections sensible as lockdowns continue


Date Time
Temporary insolvency protections sensible as lockdowns continue
The Australian Small Business and Family Enterprise Ombudsman Bruce Billson has urged the Federal Government and regulators to consider the reactivation of temporary insolvency protections, to support small and family businesses doing it tough in lockdown.
Mr Billson says the re-introduction of measures, such as the extension to existing safe harbour provisions, would provide temporary additional protections for small and family businesses that may be trading insolvent due to lockdown trading restrictions.
“Small businesses aren’t like a light that can be switched on and off,” Mr Billson says.
“With full respect for the need for public health orders, lockdowns do have a significant and immediate impact on small and family businesses and a cumulative effect when those businesses have endured multiple lockdowns. ....

New South Wales , Bruce Billson , Australian Small Business , Family Enterprise Ombudsman Bruce Billson , Federal Government , புதியது தெற்கு வேல்ஸ் , காயங்கள் பில்சன் , ஆஸ்திரேலிய சிறிய வணிக , குடும்பம் நிறுவன ஆஂபட்‌ஸ்மந் காயங்கள் பில்சன் , கூட்டாட்சியின் அரசு ,

$120 billion need for SME lending is being neglected, Judo Bank warns


Judo Bank co-founder and co-CEO Joseph Healy.
Banks are neglecting the lending needs of small businesses and startups, with an estimated $120 billion in unmet need outstanding, according to Judo Bank chief executive Joseph Healy.
A submission from Healy, on behalf of the SME-focused neobank, to the Senate Committee on Australia as a Technology and Financial Centre, suggested a failure of the big banks to meet the requirements of the small business community.
It called out a “significant and unhealthy bias” towards mortgage lending, while SMEs and startups struggle to secure loan funding.
“The genesis of Judo was a belief that there was a market failure in the provision of credit to the SME economy by the banking system,” Healy said in the submission. ....

Joseph Healy , Bruce Billson , Financial Centre , Judo Bank , Senate Committee On Australia , Australian Financial Complaints Authority , Senate Committee , Australian Small Business , Family Enterprise Ombudsman Bruce Billson , Australian Financial Complaints , ஜோசப் ஹீலி , காயங்கள் பில்சன் , நிதி மையம் , ஜூடோ வங்கி , ஆஸ்திரேலிய நிதி புகார்கள் அதிகாரம் , செனட் குழு , ஆஸ்திரேலிய சிறிய வணிக , குடும்பம் நிறுவன ஆஂபட்‌ஸ்மந் காயங்கள் பில்சன் , ஆஸ்திரேலிய நிதி புகார்கள் ,