31st October,16: If you are a small business owner in Australia, you're not alone. There are around 2 million of you, and you're making a huge contribution to the Australian economy!

Small businesses are doing better, according to the latest ABS figures, with far fewer closing their doors. In fact, the Westpac Melbourne Institute SME Index suggests there's never been a better time to start a small business in Australia.

Why? Because interest rates are low; the busy Christmas trading period is approaching, and there's a 15.2% increase in small business confidence.

However, there are two words which strike fear into the heart of most SMEs: cash flow. It is one of the hardest challenges for business. The need for extra finance during tough times is obvious, which is where short term loans come in.

Perhaps you are waiting for invoices to be paid, or you need new equipment. And often you have to spend money to make money, by buying in extra stock. That's when you need a short term loan. But what happens when the banks won't play?

Luckily, private lenders in Australia are stepping up and providing short term loans for SMEs, once again highlighting the differences in approach. To many traditional banks, SMEs are a risk, whereas most private lenders are more business-minded, and can see the advantages in supporting small businesses.

Currently, according to the My Business SME Insight survey, only 20% of SMEs use finance brokers to secure funding, but this figure looks set to increase dramatically. It is recognised that private lenders are more business-driven, more flexible and faster in delivering funding when it's needed most.

What's more, 63% of those surveyed said they would happily pay a fee to a private lender if they could secure the funds needed to grow their business.

Just like the world of property development funding, Australia's growing number of SMEs are demanding faster and more flexible funding opportunities to help them succeed.

Phone Credit Connect Capital on 1300 795 507.

64/2 Arbour Avenue
Robina
Queensland
4230
1300 795 507
[email protected]
https://www.ccc.com.au/

Disclaimer:

*The information contained in this document has been prepared by Credit Connect Capital (CCC) for general purposes only, while every care has been taken in regards to its accuracy no warranty is given or implied. The information contained herein does not constitute financial product advice and or an offer to invest. We recommend that any person obtain financial, legal and taxation advice prior to making any investment with CCC.

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