The Australian government via Bill Shorten are slipping through a surprise Bill while Australians are wound up in the Christmas hustle. Bill Shorten wants to regulate small business access to credit and it appears very likely it will to hurt small business already struggling with tight lending restrictions from banks in the post GFC aftermath.
The RBA has hosted its first roundtable with major banks, academics, small business owners and small business organisations. The positive to take from the RBA’s previously zero understanding of small business is that now the bank is being educated.
There has been a constant call for years for the Australian federal government to intervene in small business; particularly in franchising. The banks have tightened lending criteria, franchise sales are down and franchisors are squealing.
It makes sense that Australia’s Silver Chef has introduced a franchisor accreditation system to build industry relationships with added supplier confidence that the ability of franchisees to pay upfront was not the only franchisee selection criteria. The Rent-Try-Buy franchise system supplies equipment and fit-outs to the hospitality sector.
In decisions to franchise businesses, pie in the sky financial modeling is the delusional mind expansion medium that has launched many doomed franchise attempts. Yet, financial modeling is not new to business planning.
BELLEVUE, Wash. – After halting all sales of 401(k) rollover plans for fear of crossing the Internal Revenue Service, Guidant Financial Group announced Wednesday that it will resume small business lending immediately.