Liquidations soar as business owners face cash flow issues
Too many New Zealand businesses are going bust because they put off asking for help until it is too late, according to the Interface Financial Group, the country's largest alternative funding source for small businesses. Chris Reid, NZ director of The Interface Financial Group, which provides invoice financing to small and medium-sized companies, believes many companies are failing unnecessarily because the owners are leaving it too late before asking for help: 'Business owners need to be looking for solutions much earlier,' says Chris. 'Interface has had to turn around 20 applicants away over the last three months, due to bad credit. They have been too far gone for us to help them. In 2007, we turned less than 20 away in the whole year. 'Many people also still think that, when push comes to shove, their bank will lend them a helping hand.
All news and features older than 7 days are subscription only. This article is from the archive. Archived articles could only be accessed with the subscription. If you are a subscriber please log in, alternatively you need to purchase a subscription to view the full content for this page.
