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SME insolvencies on the rise
7 May 2009 |
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| Small businesses are starting to feel the bite of the recession, as the number of companies entering administration reached its highest level in 10 years.Insolvency and company registration statistics from the Australian Securities and Investments Commission have highlighted a 64 per cent increase in the number of companies appointing administrators from 668 to 1,095, over the year ending in March.Queensland was most affected, reporting a 155 per cent increase in administrations during this period. NSW and Victoria were up more than 40 per cent.According to Ferrier Hodgson partner Steven Sherman, the figures were not surprising as it widely reflects the current market conditions. "Banks are all looking at and assessing their options to assist companies, but exit strategies are not as readily available as in previous cycles." said Mr Sherman.NAB head of business banking Joseph Healy said, "the slowdown in the economy has been much faster than we were anticipating." |
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| Source : The Australian Financial Review |
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| 29 May 2009 | - Maroondah and mecu merge |
| | - Card details compromised |
| | - Battellino tells the critics to wait a while |
| | - Equity hedging may be banned for execs |
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| 28 May 2009 | - Broker loans take longer to process |
| | - Super concessions push investors back to property |
| | - Skilton flays at wrong targets |
| | - RBS loans a turn off for StanChart and maybe HSBC |
| | - Plenty of capital on offer for ANZ |
| | - Bad debts a drag on Suncorp |
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| 27 May 2009 | - Fees excessive for lost super |
| | - Household insurance premiums rising |
| | - Income protection levels low |
| | - Bendigo clarifies exposure to the MIS mess |
| | - Property & manufacturing produce bad loans for ANZ |
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| 26 May 2009 | - ACCC grumbles over lack of banking competition |
| | - More like two big banks |
| | - St George waits for banking revamp |
| | - Credit card surcharges must be upfront |
| | - Covered short selling allowed |
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| 25 May 2009 | - Average home loan rises fast for new starters |
| | - CBA and Westpac rule mortgage market |
| | - Banks cynical on exception fees |
| | - Five cent shrapnel scrapped |
| | - Five cent shrapnel scrapped |
| | - Banks cynical on exception fees |
| | - Five cent shrapnel scrappel |
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| 22 May 2009 | - Bank fee take goes up again |
| | - Customers walk to avoid ATM fees |
| | - Fees are easy to avoid say banks |
| | - Bank penalty fees are unfair |
| | - Builders offer incentives to first buyers |
| | - NAB is out of touch |
| | - Mortgage broker claims client's home |
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| 21 May 2009 | - Bank fees and margins up |
| | - Banks commit to future biz loans |
| | - A big Queensland bank? |
| | - Fake CBA emails offer prizes |
| | - Banks face direct debit problems |
| | - Investors face losing their homes |
| | - Westpac gives $10mil by mistake |
| | - Frozen funds trigger margin calls |
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| 20 May 2009 | - Affordability up as repayments fall |
| | - Rates to fall to 2 per cent by christmas |
| | - Saving is the new black |
| | - Kids get 6 per cent on savings |
| | - Westpac disappoints business |
| | - No interest loan scheme expanded |
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| 19 May 2009 | - Fixed rates hit 15 year low |
| | - Rates to stay low for another year |
| | - SME's rate Westpac, ANZ most popular |
| | - Commonwealth upgrades Netbank |
| | - CBA looks online for simple sales |
| | - NAB bankrupts customer over $2K |
| | - Investors caught by failed agri schemes |
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| 18 May 2009 | - Auction clearances remain healthy |
| | - Sellers cash in on first home frenzy |
| | - Credit crunch casualties grow |
| | - Members Equity offers good savings rates |
| | - Chip cards to take over within 3 years |
| | - 1 in 10,000 payments is a fraud |
| | - Have you been skimmed? |
| | - Men save more than women |
| | - How Bad Are Default Rates Getting On Credit Card |
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| 15 May 2009 | - Lending for renovations boom |
| | - DIY Super shuns geared property |
| | - Broke families told to eat less |
| | - Banks can't hide behind debt collectors |
| | - Seniors keep their health care card |
| | - Westpac promotes its branch managers |
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| 14 May 2009 | - Commbank grabs mortgage market share |
| | - Commbank lets Bankwest customers go |
| | - Govt props up Ford Credit |
| | - NAB gives $500 to low-income savers |
| | - ASX to offer property derivatives |
| | - CBA cuts dividends as bad debts surge |
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| 13 May 2009 | - First home buyer's grant extended |
| | - Super investors keep their health card |
| | - Pension and retirement age go up |
| | - Community bank gives away $560K |
| | - NAB, ANZ send jobs to India |
| | - Protected loan rates must come down |
| | - Income tricks targeted by tax office |
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| 12 May 2009 | - Lending figures strong across all segments |
| | - An end to rate cuts? |
| | - St George grows lending |
| | - CommSec iPhone app wins gong |
| | - Five million miss out on $900 payments |
| | - Swan to reveal massive deficit |
| | - Investors to pay for pension pay rise |
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| 11 May 2009 | - Woolies happy with customer take-up for 'epump' |
| | - Auction clearances holding up |
| | - Big banks take over mortgage market |
| | - Super Visa debit card |
| | - Small biz rates stay high |
| | - Margin lending down, margin calls up |
| | - NAB lavishes gifts on mega rich |
| | - Lenders can't hide behind brokers says ASIC |
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| 08 May 2009 | - Bendigo increases stake in Elders Rural Bank |
| | - No more reloadable pre-paid Visa cards |
| | - No guarantee on gift cards |
| | - St George grabs new customers |
| | - Guarantee is a nice little earner |
| | - Govt reins in margin lenders |
| | - Reverse mortgage market under pressure |
| | - Suncorp gets out of property lending |
| | - Rate cut hopes disappear |
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| 07 May 2009 | - Sydneysiders struggle with debt |
| | - Aussie looking to lend |
| | - Baby boomers boost savings |
| | - Investec settles in Australia |
| | - Banks reap profits amid economic gloom |
| | - Swan set to raid our wallets |
| | - MacBank plays it safe |
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| 06 May 2009 | - Rates remain on hold in May |
| | - Rate cuts put on hold |
| | - Victorian first home buyers grants go up |
| | - Suncorp bolsters business |
| | - ANZ hosts small biz workshops |
| | - Westpac raises margins |
| | - Super tax slug coming |
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| 05 May 2009 | - Auction clearances holding up |
| | - WA fuel card trips up Centrelink |
| | - House prices crumbling |
| | - Elderly women like reverse mortgages |
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| 04 May 2009 | - Financial Planners phase out commissions |
| | - Melbourne property prices crash say agents |
| | - No May rate cuts expected |
| | - Consumers love Visa/Mastercard debit |
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| 01 May 2009 | - House prices to crash by 20 per cent |
| | - Sydney house prices falling |
| | - House prices fall in Perth, Adelaide |
| | - Consumers and businesses stop borrowing |
| | - Depositors turn away from Bankwest |
| | - Every home to be energy audited |
| | - Bad debts dog Bankwest |
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