A better situation for SMEs – Key findings of Sensis December Index 2014
A better situation for SMEs
SMEs’ ability to access finance is critical for capital expenditure and
growth. On balance, SMEs found it a little less difficult to access
finance last quarter and more were successful if they tried.
Last quarter (August – October 2014)
Almost as many SMEs perceived accessing finance to have been
relatively difficult (23%) as relatively easy (25%). However this was
an improvement as the net result was -9 last survey.
SMEs in SA were most likely to say it was hard to access finance
(-15) with those in Tasmania the most positive (+12). Across the
sectors hospitality (-17) as well as health and community services
(+20) stood out.
Only 12% of SMEs indicated an attempt to access finance, down
5 points since last quarter. However, of those 70% had success
compared to 56% previously.
Only in NSW was there a below average incidence of SMEs seeking
finance during the quarter (5%). SMEs in manufacturing (25%) and
the wholesale sector (24%) were the most likely to have sought finance.