With the royal commission final report delivered, its findings reflect the need for cultural change.
What can’t be allowed to happen is the curtailing of funds to the SME's. Australia needs robust and vibrant SME's who have access to debt solutions that aren't tied to a falling property market. Banks must not be further restricted in lending to SME and take on risk to continue to provide funds to SME's. If the outcome is further restrictions SME's will suffer and jobs will be lost.
"According to Digital Finance Analytics’ 2017 SME Survey, unsecured business loan applicants now face a 74% rejection rate, up from the previous year, where businesses had a 67% likelihood of being rejected by traditional lenders." https://lnkd.in/g7URwQD