I read an article in The Age, Thursday 23 July 2020 about how some of the major banks are warning against jumping on the debt bandwagon to save businesses during the crisis, despite the tax payer backed loan scheme. I couldn’t agree more. Any self-respecting business, especially SMEs cannot and shouldn’t borrow more money if they do not have some certainty about where their business opportunities, customers, and sales revenue is going to come from now and in the future.
Earlier in the week I also read a press release by Kate Carnell, the Australian Small Business & Family Enterprise Ombudsman, which stated “Instead of getting the support they need to turn it around, small businesses too often find themselves on an express train to winding up with no control over the … read more by subscribing.
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