Owen McCaffrey’s Post

The Australian small business community faces a significant cash flow crunch, fuelled by soaring business and living costs and exacerbated by unpaid debt from the high number of business insolvencies nationwide. COSBOA has put forward targeted policy interventions to alleviate business costs. These interventions will support small business sustainability, enhance business resilience and lead to a reduced cost of living and an environment where both businesses and consumers thrive. COSBOA’s latest Small Business Perspectives Report highlights several critical challenges facing Australia’s small business sector, including the cost of doing business. Access the report here – https://lnkd.in/gsgHmiD3 #SmallBusinessPerspective #SmallBusinessData #SmallBusinessPolicy

Business Growth Programmes for SMEs are an essential facet of regeneration. In this article Jay Mehta examines the Subsidy Control issues to address when applying public sector funding towards Business Growth Programmes. Learn more: https://lnkd.in/eg5edM_s #BusinessSupportProgrammes #SubsidyControl #CommercialLaw

In an independently produced survey with Amárach Research about business costs, small businesses were asked about the impact of rising business costs in the past 12 months. This survey revealed that 83% of small businesses in Ireland are facing escalating costs.   Moreover, 35% of businesses report that they cannot continue trading beyond six months without additional funding. David Broderick, Director of the SFA, underscores the severity of the situation: “The fact that over a third of small businesses will run out of liquidity within six months without any financial aid shows how cash-strapped they are. One in five small businesses have secured funding from friends and family to cope with rising costs. This is an alarming reality.”   Supporting small businesses, the lifeblood of our communities, is more critical than ever.   For the complete survey results and detailed insights, visit: https://lnkd.in/emuD69XM #SmallBusinesses #BusinessCosts #CostEscalation #SFA #SupportSmallBusiness Ibec Jonathan McDade Geraldine Magnier

2 businesses per day closed in 2023, with a projected 3 per day in 2024. (That was the projection in Q1, but since there's been over 11,700 businesses served demand notices by Revenue in May regarding their tax debt warehouse situation. So the figure of 3 per day for 2024 may be conservative. We can no longer ignore or sideline the reality of the newer and more grave pressure small businesses are under now (that's 98% of all the businesses in Ireland). Calling on Govt to do a 'PRSI rebate' as proposed by Small Firms Association, so as to effectively support every small business in our country rather than just those who pay rates (ICOB - 'Increase in Cost Of Business' package, the €257m support scheme is only getting paid to rate payers.) #sme #smallbusiness Minister Peter Burke and Department of Enterprise, Trade and Employment

From Aberdeen to Perth, smaller businesses across Scotland face unique challenges and opportunities. Our latest SME Access to Finance report will help us tailor support to help smaller businesses across Scotland thrive. Published collaboratively with Scottish Enterprise, our report offers deep-dive analysis of smaller business finance across Scotland and a comparison to other Devolved Nations. Download your copy here 👉 https://lnkd.in/g43PKEpf #Scotland #SmallBusiness #SME #SmallBusinessResearch

As SME's are the engine behind UK growth, it is vital that the challenges they face be addressed. Boosting productivity and improving SME's access to finance are two challenges faced by many SME's in the UK. What challenges does your business currently face? And how are you overcoming them? #TemplewoodEquity #BusinessChallenges #UKBusinessFinance #UKBusinessOwner #Founder #BusinessFinance

🔍 Over 11,000 small businesses in Australia faced insolvency in the last financial year, mainly in construction, accommodation, and restaurants. This rise is linked to the ongoing cost of living crisis impacting consumer spending. Luke Achterstraat, CEO of the Council of Small Business of Australia, offers insights into the challenges these sectors are facing. Learn more in ABC News' "Small business insolvencies hit record highs." Read more: https://ab.co/4dzIDit 🌐 #SmallBusiness #Insolvency #BusinessTrends #EconomicChallenges

"It’s all about the execution, not the theory." How can the private and public sectors work together to boost access to finance for businesses across the UK? Our Partner and UK&I Head of Government and Public Institutions, Anthony Charrie, CFA, spoke with Sir Nigel Wilson, a member of the Levelling Up Advisory Council and former CEO of Legal & General, to find out how vital capital for small and medium-sized businesses can be unlocked at a local level. Sir Nigel spoke at the launch of Oliver Wyman’s new report for the Levelling Up Advisory Council, which makes policy recommendations to help address regional imbalances in financing for SMEs and boost nationwide growth. Read the report > https://owy.mn/4aBfyT9 Department for Levelling Up, Housing and Communities #SME #SMEfinance #levellingup

Guest Column 🚨 Cashflow, investment and financial stability. These are often the barriers which prevent SMEs from growing. Amanda Meyerhoff, Lead relationship manager for Wales for Allica Bank looks at how Open Finance works, what does this mean for businesses across Wales, and what impact could it have on Welsh SMEs? #OpenFinance #SMEs #WalesEconomy #Investment https://lnkd.in/exrcTGc7

Attention South African small business! Recent stats reveal a 35% increase in business liquidations compared to last year. 109 businesses closed down in January alone, proving just how challenging our economy is to navigate. Voluntary liquidations are particularly telling. They often signal that business owners know and accept there is no way out. We have unfortunately seen this happen with a few of our clients at Count and Account Financial Services (Pty) Ltd. It is normally the result of a ripple effect because if their biggest client goes under, they go under. As I've mentioned in previous posts, it's all about cash flow and whether the company has the reserves to carry itself through the difficult months. This trend is not just confined to one sector; it's spreading across the board, impacting even the strongest of industries. The decline in new vehicle sales further confirms that the economic pressure is far from over. If your business is feeling the strain or you're looking to strengthen your financial strategies, please reach out. Whether it's optimising cash flow, finding new ways to cut costs without compromising quality or exploring new revenue streams, we can provide support. https://lnkd.in/dj5cHEMc #SouthAfrica #Economy #Finance #SME #Supportingsmallbusinesses