Banks jostling for a slice of the lucrative small business segment are reporting major increases in applications for loans to buy costly equipment such as cars, tractors, and machinery, in a sign policies to boost investment may be having the desired impact.
ANZ’s Mr Presland said Australia still faced a “multi-speed” economy, with conditions remaining tough for businesses in CBD areas. Firms were also cautious about borrowing for working capital, such as through overdrafts, he said. “Obviously the government stimulus and the like has meant that there’s been lots of requirements for funding.”
“The extension of the instant asset write off scheme has been a great way to boost productivity and efficiency throughout the economy,” Mr Saadie said in a statement.
clancyyeates The great reset. Yes covid crushed all small businesses on purpose so if they wanted to survive they had to borrow more money to do it. Yes this was always the plan create more debt for people so banks benefit.