Challenging credit conditions are a barrier to growth

More than six in 10 Australian SMEs identified challenging credit conditions as a key barrier to growth, which could create big opportunities for brokers. Findings from the latest Scottish Pacific SME Growth Index revealed that 63.8% of Australian SMEs saw challenging credit conditions as a major barrier to business growth. Over half (54.7%) even admitted that the outright availability of credit is impeding growth prospects.

Scottish Pacific CEO Peter Langham said the Index reflected the tough landscape facing many SMEs, who were so focused on daily issues around cash flow and funding, that they may not make time to look at the big picture.