A daily download of SME, startup, fintech and tax news from around Australia.
The sleepless nights. The stomach-churning decisions. It is not easy financing or running your own small company. That’s doubly so because most small business loans use domestic property – often the family house – as collateral to get started or keep going.
Now that critical source of capital is under two threats. One, that falling home values as the housing market turns will naturally crimp the amount that small business operators can borrow against property. The second is that small businesses fear they may also get unfairly caught in the crackdown in mortgage standards that will come out of the Hayne royal commission .
It’s a job title that thousands of people across NSW relish but financial guru Mark Bouris thinks the small business owner tag should be considered an insult.
The Mentor host, who is about to embark on a national tour to get behind Aussie businesses, has called for a major rethink on how we label the people who employ 60 per cent of Australia’s population.
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