Keeping Your Lenders In The Loop
Finance experts believe many businesses wouldn't be forced to close if they had better communication with banks.
The sharp rise in the number of businesses being forced into liquidation is a stark reminder of the tough trading conditions being faced by many small-to- medium-enterprise owners across the nation.
Australian Securities and Investments Commission figures show external administrations rose almost 6 per cent to 9829 in the last financial year, while the number of court liquidations jumped 7.7 per cent to 2653.
The figures are alarming, and finance industry experts believe many businesses wouldn't necessarily be forced to the wall if they had better communication with their lenders, which, in the majority of cases, are the major banks.
To read the rest of this article please click here: Keeping Your Lenders In The Loop.
Is now the best time to automate your business?
Asks Interlease Director Andrew Sutherland
Events over the last 4 years have seen many businesses put on hold process improvements and automation of their production facilities. Reasons for delaying changes to businesses are varied however have often come down to businesses choosing to do nothing rather than risk incorrectly predicting the future.
So can a business look to automate and become more efficient with constant uncertainty about the future health of the global economy? The answer is yes - particularly if a business case can be presented for the automation to be cost effective across the complete range of likely future economic climates.
For example - Will automation be cost effective if sales levels remain the same or even decrease? And can the automation also cater for increases in sales and future growth of the business.
With growing shortages of skilled and unskilled workers, and the cost of labour increasing each year businesses which choose not to change risk falling further behind their competition.
Click here to read more about this article on “Is now the best time to automate your business?”
Interlease completes merger with Enterprise Finance
Interlease is pleased to announce that it has merged with Melbourne-based asset finance company Enterprise Finance Australia.
The merger brings together two of Australia’s oldest independent commercial finance brokers, with both companies established in the 1970s and having substantial experience in the financing of plant and equipment for the SMB and corporate market.
The combined companies have a substantial base and extensive financier network, placing them at the forefront of providing structured equipment finance solutions in an increasingly difficult market segment.
Both companies have continued to grow over the last financial year by providing outstanding services to companies increasingly neglected or poorly treated by their transactional bankers and believe this growth will continue.
The Enterprise Finance team relocated to Interlease’s offices during October, and it is envisaged that this change will be seamless for Enterprise clients, who will not only continue to receive outstanding service but also have the ability to call on the substantial experience and product mix of the Interlease Group.
Well negotiated Trade Finance Facilities deliver positive results
Many corporations, small and medium-sized businesses are turning to specialist equipment finance brokers to negotiate the terms and conditions of trade finance facilities required for the acquisition of machinery and other capital equipment necessary to increase productivity.
Trade finance facilities include Letters of Credit for the importation of machinery or equipment, hire purchase agreements, lease purchases with varying balloon or residual options, unsecured loans and working capital lines of credit. For business owners it can be an overwhelming and time-consuming prospect to investigate the many commercial equipment finance options available in the market today. In many instances business owners approach their bank to organise their commercial finance and, in doing so, invariably find that the bank may well grant the facility, but at what cost to the company?
Added to this, finding someone within a bank, with expertise in the importation of capital equipment can be difficult and invariably every bank or financier has different requirements and limitations, which can lead to delays and issues with machinery manufacturers or agents.
The Personal Property Securities Act
The Personal Property Securities Act 2009 (Cth) ("PPSA") is now expected to come into effect in October 2011. All financiers and businesses that supply goods to their customers or distributors, on the basis that they retain title until payment is made, are at risk if they do not appropriately prepare for the PPSA.
What is the PPSA and how will it affect you and your business?
The PPSA is a Commonwealth Act that became law at the end of 2009.
The PPSA replaces over 70 pieces of law in relation to "security interests" in "personal property". Personal property is not just consumer property; it is all forms of property other than land and certain statutory licences. Commercial equipment and stock are common examples of personal property.
Click here to read more about the The Personal Property Securities Act.
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