More stimulus needed for Aussie SMEs
If the RBA’s February rate cut had been expected to fire the engines of the business sector, then the nation’s small and medium-sized businesses missed the memo.
We found that business borrowing eased 13% in the March quarter, just one finding from our latest Banjo Barometer, which provides a snapshot of SME loan activity, performance and trends to help your business decisions.
As a seasoned non-bank business lender, Banjo’s portfolio serves as a barometer for the state of SME businesses across Australia.
Our latest analysis shows:
- Caution is back – with loan applications dropping to the lowest level this financial year
- Retail traders are showing resilience, while SMEs in the transport, postal and warehousing sector are struggling
- Loans in arrears are beginning to creep, with a quarterly increase in amounts past 30 days due
- ATO debt has become less of a factor in declined loan applications
Read about these findings and more, with our latest Banjo Barometer.
