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23/11/2009 09:38 Sydney, Australia.
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23/11/2009 09:38 Sydney, Australia.
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23/11/2009 09:38 Sydney, Australia.
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23/11/2009 09:38 Sydney, Australia.
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The business sector has welcomed the decision by the Reserve Bank to cut the official cash rate, but says commercial banks have the capacity to go further.
Small business is being hit hard by a slowdown in the domestic economy and needs an interest rate cut now, the ACCI says.
Australia's family businesses are weathering the downturn, but their insular management structures and procedures could by restricting their profitability and growth.
A consumer body fears the major banks will consolidate their hold on lending as the credit crunch forces their non-bank competitors to offer fewer products.
In boom times, many business owners naturally turn their focus to sexier measurements like sales and profit, but when things slow down it is cash-flow that is the key test of business health.
Business confidence is expected to fall to its lowest level since 2000 in September as consumer nerves, high fuel and food costs and sharemarket wobbles take their toll.
Just after NAB shocked the market by announcing $830 million of writedowns, ANZ has announced $1.2 billion of provisions and revealed its cash profit will drop by 20% to 25%.
It's getting very gloomy out there. Surveys from Dun & Bradstreet and NAB show that business conditions have now reached lows not seen since the economic downturns of 2000-01 and 1990-91.
Fare hikes, higher taxes, the oil crisis, flight cancellations and industrial action are creating havoc for business travellers. We ask Australian business travel experts how your business can handle the turbulence.
For small and medium sized businesses, this can sometimes be a complicated task. The general principle under Australia’s tax laws for businesses is that an expense is tax deductible if it is incurred in carrying on the business. That is, the expense must be related to the conduct of the business.
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Business advice: Your Business SuccessEach week Your Business Success showcases a different Australian business and brings in industry experts to advise the business owners. Your Business Success web site.
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