Australia

Business failures have increased 11% for the first half of this year, payment terms are at a seven-year high and traditional avenues of credit for small business are drying up

FSA Group Limited, a provider of debt solutions to individuals and businesses in Australia, has released their Financial Report for 2008.

According to Bibby Financial Services, economic conditions will get worse for small businesses, even with a second rate cut from the Reserve Bank of Australia.

EFIC, Australia s export credit agency, has helped Dandenong s Warill Engineering Sales deliver on a AUD 1.8m (EUR 1.04m) contract to export foundry equipment to India.

Brisbane-based wastewater company, MultiTrode, is expanding its business in the US with support from the Export Finance and Insurance Corporation (EFIC).

Cash-strapped companies are increasingly turning to debtor finance as the economic slowdown starts to bite.

Cash-strapped companies are increasingly turning to debtor finance as the economic slowdown starts to bite.

Payment terms have been stretched to their highest point in seven years from 30 days to 55.6 days, putting a strain on businesses across all industries.

According to Australian news sources, former GE Capital Solutions executive, Kevin M. Egan, has been named chief financial officer of GE Commercial Finance, Australia/New Zealand.

The spectre of economic uncertainty hasn't dampened the medium term outlook of private businesses, according to the latest PricewaterhouseCoopers Private Business Barometer.