Time for the major banks to step up

Banks need to re-examine how they handle cashflow problems for businesses. (Image: Getty)

Wed, 08 Sep 2021

An under-appreciated reason for business failure is a lack of working capital - the cash to manage short-term commitments and operations. Throw together supply chain disruptions, rapidly escalating costs, labour and productivity disruptions, and lockdowns, and you have pressure on business cashflow. ANZ’s Business Outlook Survey for August reported getting credit is the most difficult on record, and worse than in the first lockdown. Deep breaths are needed from banks, regulators, government and businesses, while mechanisms...

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