The strength of the Australian economy has been obvious for the last 12 months - our cash rate has remained unchanged all that time and still sits at the record low of 2 per cent.
What does that mean for your small business? Well, for a start, it's great news in terms of how trade and other financial factors are helping to solidify our market position in the global landscape.
The global outlook
Compared to a moderating Chinese economy and the slight downturn in the growth of other global markets, Australia is very well balanced at the present time.
The announcement of an unchanged cash rate means our marketplace is showing strong improvements.
The Reserve Bank of Australia's (RBA) Governor Glenn Stevens states that high-volume borrowers are still being funded at a low cost, while the environment for monetary policy around the world is currently "accommodative".
There is a real push for small business to grow and become a powerhouse of the Australian economy. The announcement of an unchanged cash rate means our marketplace is consistently showing strong improvements and encouraging further growth. Could your business benefit?
How can invoice finance help?
Where your clients have unpaid invoices, turn to Earlypay's invoice finance solutions for the money you're owed. It's really as simple as that. We can provide a percentage of the value that your invoices are worth, and then take on the responsibility of getting those resources back to you, while taking a small fee. This leaves you with the room to move, and money that you deserve in hand.
This is an excellent option for businesses that might be looking at their current expectations with a little bit of doubt.
According to an April 5 Dun and Bradstreet Business Expectations Index report, sentiment and confidence has fallen slightly, even after a positive March. In the first quarter of 2016, business expectations were at 18.9 points, but have fallen to 12.7. A similar trend was seen last year, when a 20.1-point first quarter dropped to, funnily enough, 12.7 points as well.
Australian businesses are well within their own powers to jump out of this slump and really take control of their immediate futures. With options on hand such as invoice finance, there's no reason for SMEs to be letting their expectations drop.
Has your business confidence taken a hit recently because of a lack of available working capital? Get in touch with Earlypay and help your business back onto the track.
If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].