If you’re the person that organises your office sweep for Melbourne Cup, you already know what a pain it can be in this increasingly cashless society to get your co-workers to cough up the dollars for their bet. Digital payment app Beem It hopes to change all that. The fintech offers a free to use… Read more »
Research by online lender Ondeck has found small business owners are increasingly struggling to secure finance from traditional lenders. In response, SMEs are turning to online lenders, family, friends and credit cards to supply the funds they need to grow their business. The study found one in four SMEs have had their loan applications rejected… Read more »
A study by Roy Morgan of over 50,000 Australians has revealed there is now almost universal awareness of digital payment options as Australians continue to move towards a cashless society. The Roy Morgan ‘Digital Payment Solutions Currency Report’ found 72 per cent of Australians surveyed use at least one digital payment method; with 93.9 per cent saying… Read more »
76 per cent of Australian millennials consider the existing global economic system “outdated”: how can social media help? asks Wester Union Country Head, Australia, Simon Millard. Adopting a mobile-first mentality Australia boasts one of the highest levels of smartphone usage in the world, with 88 per cent of us owning one; ushering in what some… Read more »
The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) and the theBankDoctor.org have released a guide to provide small business owners with all the info they need to better understand borrowing from alternative finance sources such as fintech organisations. The Ombudsman Kate Carnell suggested the guide will help SMBs to understand the jargon and receive a clearer… Read more »
In a survey carried out by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) earlier this year, only 50 per cent of the fintech companies surveyed considered their contracts compliant with existing Unfair Contract Term (UCT) legislation. The finding prompted Small Business and Family Enterprise Ombudsman Kate Carnell to call for all fintechs to… Read more »
Aussie trade financing startup, Trade Ledger, has wiped the floor with the competition at Barclays UK Ventures Open Innovation Challenge in London this week beating out nine other VC backed companies to take out the top honour. The ten hand-picked finalists were chosen by Barclays due to their potential to offer game-changing business solutions across a variety… Read more »
Australian small to medium-sized enterprises (SMEs) are currently owed $26 billion, greatly impacting cash flow and operations, according to the latest Late Payment Report 2016.
Medium-sized businesses are twice as innovation-active as small business and sole traders, according to the latest Australian Bureau of Statistics (ABS) annual Business Characteristics Survey.
As a leading Australian payment processor with over 5,000 small business customers across Australia, Pin Payments is partnering with innovative service providers to offer Australian merchants a broader range of services to support and grow their businesses, says Chris Dahl.
These new providers are disrupting the traditional lending model which as the online compete to give small businesses access to finance.
Small and medium sized enterprises share frustration with the availability and conditions of credit from the big four banks.