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发表于 2011-5-19 17:13:00
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本帖最后由 harryren2008 于 2011-5-19 17:16 编辑
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S.M.E State Of Play
7 N' f& }* d/ I8 o, I, cAUTUMN EDITION # x8 }8 |: C1 U" M4 w# |- H
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What a turbulent 5 months the world has had since our last newsletter!
% l% x# a$ a, r* H+ m" uQueensland and Victoria have both been devastated by floods, followed by Cyclone Yasi which left yet a further path of destruction in Queensland. / [! J" H9 ~. g/ j3 o/ {+ r9 H$ X
New Zealand witnessed another massive earthquake, effectively levelling Christchurch and Japan has just experienced its worst disaster in 65 years. $ M% u; D9 X. FP4 ^7 P
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THE FACTS: 3 n# a6 T. J! g
The recent events and slump in consumer confidence has seen the RBA hold interest rates from March through to May. The retail business community is struggling after a below average Christmas shopping period. , @8 j, ]+ g. S2 z3 K
Consumer confidence has slid with the recent increase in interest rates and added to this, petrol prices have risen 25% in the past year. The talk of an introduction of a carbon tax has also spooked consumer spending and there’s a distinct lack of confidence amongst the general consumer. They have their hands firmly in their pockets, until they can see some sunshine.
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% U0 c8 Q3 m' I: K& UThere are definite signs of a two speed economy with no obvious solution in sight.
) J) v! }5 d' R. j2 U4 hClive Peeters, Dare Gallery (both sold), Kleins, Angus & Robertson, Boarders, Gripp Jeans, Baskin & Robins, Allied Brands, Villa & Hut, Timber Corp., Burrup Fertilizers, JAG, Diana Ferrari and Colorado Group; to name but a few are companies currently being sold, in administration or have already been liquidated. There are many more household names having financial difficulties that could well be further victims of the GFC and the banks.
: e8 Z) ?% C! t3 n0 vABS data, at June 2008, highlights there were almost 2 million small businesses in Australia, employing 5 million people. This is 96% of all businesses operating or 50% of all employees in Australia. The SME sector is not recovering as expected; further interest rate rises or more compliance issues will be detrimental to ongoing growth. The RBA needs to hold rates until there are visible signs in business growth not mining growth. Higher rates will reduce consumer spending which will see small business confidence dive. The business sector has worn the brunt of the Big 4’s struggle for the home loan $$$ and seen little relief recently.
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THE STATS: ( f# T: C: L0 P: o& I6 d5 P" u1 e
Following a decade of rising house prices and low interest rates, the housing market appears to be having a break and many vendors are reassessing their asking price to the purchaser’s advantage.
# _6 ~3 y! U* {+ Z' n5 zThe home lending market is also heating up with Banks dropping fees to get your home loan. These discounts will be to the detriment of the business community, as all the banks will add additional fees to the business customer to cover the home loan discounts; ANZ is now charging 19.1% for excesses on business overdrafts, credit card rates, just to assist business a bit more!!!!
$ [" |4 H" s^! S4 tThe four biggest US banks represent 34% of their market. The top five French banks represent 50% of their market. Yet our big four banks account for a staggering 92% of the Australian market.
8 _: g$ B+ ~( r7 @During the global financial crisis, our big banks acquired St George, BankWest, Aussie Home Loans, Wizard, Challenger Financial, RAMS and many smaller funders have exited Australia.
' U* l! N2 b! v3 v7 @( X: ABanking competition is desperately required; the banks are reluctant to extend additional credit terms to many business customers who have been loyal for a long time. / s% _# X}, E7 w
- R/ ]; q: S5 U2 }2 z, Z$ i) ?THE BRIGHT LIGHTS: $ D6 ^f; v+ b% h
The strength of the $AUD has been a bonus for all holiday makers heading overseas during the recent summer break enabling real value when spending off shore.
1 ns2 J+ U; s3 Q" ~3 }8 E2 UThe $AUD has also assisted the price of imports; curtailing inflation fears for the time, however the export and manufacturing markets have suffered dramatically in some cases.
7 P' P* ?- QH8 i; r% C; F2 e1 cMotor vehicle prices have also benefited from the $AUD with dealers not willing to let any genuine offer go; the price of used cars has deteriorated with cheaper imports.
5 _& K7 t7 l1 CThe mining industry keeps on booming even with the recent tragic events.
6 I1 o; Y# l% d5 ?. ]The rebuilding of Japan will assist our economy in the future, being Australia’s second largest trading partner with $59Billion per year in trade
: f! ?0 G& u! P8 TThe rebuilding programs both here and overseas will require iron ore, coal, nickel and copper besides farming exports and other commodities. The consequences of this, in addition to the construction of new homes, businesses, roads and infrastructure should witness an upswing in our economy which ultimately will result in higher interest rates and inflation. * l. C5 c2 e4 b$ ?' Q" r. p+ p
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THE FUTURE: 0 l: A2 _8 F0 V# k
? Interest rate decisions for 2011, will be neutral over the coming months. 8 i1 v; IV. U$ U4 W
? The $AUD will be a hot topic in 2011, if the US economy emerges from the economic recession and the US Federal Reserve increase interest rates towards the end of 2011, our dollar may suffer. 4 q2 W! ]/ E- Sa! e
% Q$ V: F, ic9 E, M5 L? The banks’ profits will head towards a $30 billion milestone as the expected bad debts do not eventuate.
: }. \4 ]?: o1 e/ A& P? The generational changes to internet shopping will only increase and start to limit the interaction of the strip shopping centre with the customer. ( p8 f9 n* f) j+ j
? The small boutiques shops will be limited to what they spend on new websites, whereas the large stores can develop their websites to enhance business. 4 ~0 n9 S4 f( S; ]
? Rising demand from other Asian economies, especially China, will play a greater role in our growth and will limit any short term fallout from Japan.
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THE ACTION PLAN: & f/ @) o1 \4 P4 S
?Contact one of the team at SME for motor vehicles & business equipment funding.
% r: _! B% P' J. a7 o?Check with our office and compare our timing & rates against your bank for mortgages, equipment and motor vehicles.
# B6 c& i) k7 V* K) i?Let our team do all the "leg work" 1 g6 C; i" A8 T5 S
?Spread your business risk (have a number of finance options). 3 J9 s( e4 C/ t9 [: I
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MORTGAGE FUNDING: Contact: Michael Pratt - [email protected] - w" G) G# Z$ z7 ?! ?
When you are next considering the purchase of new capital equipment, motor vehicles, construction and transport equipment etc. we would appreciate the opportunity to see if we can be of assistance to you. It is prudent to source additional facilities and spread your risk.
9 T0 M: i3 N/ o4 h& PFor all business equipment & transport inquiries please contact:
. Z) m2 G' K5 w# r# v$ GCaryn de Silva – [email protected],
K3 o, G' E" W' M$ v9 \David Williams – [email protected],
9 F: a! U2 C, \! K- S: ]* kArthur Kalinchev ‐[email protected],
, G5 L8 a6 }) m! aLen Fuller ‐[email protected], % e3 C2 U* {( P# X- C
Ken Mclean – [email protected] or / m# K0 s9 J/ WA
Michael Pratt – [email protected] - M; c% O. R" I: L$ A
Harry Ren – [email protected]
' S* h4 B/ k. ~% l' h(N.B .Pratt & Co & SME email addresses for staff are interchangeable and forwarded) 6 ~0 qs( u: ^. D" I& V
We at Pratt & Co. and SME pride ourselves on innovative financial solutions and hope you find this information of assistance. When you are next considering a mortgage, capital equipment, motor vehicle or other such purchases please give us a call. We would welcome the opportunity of assisting you with your financial requirements.
0 I* s, Q: e+ S) fThe attached email is commentary only. It does not constitute, and should not be relied on as, financial or investment advice or recommendations (expressed or implied) and is not an invitation to take up securities or other financial products or services without receiving independent advice from your financial advisors. 9 g' ^5 h, ]& n0 |
Contact our office: 1300 ASK SME (1300 275 763)
/ L* V' [) I. v, j- ]: [5 D$ v' B" w& FTel: 03 9827 4477 | Fax: 03 9827 7288 ) _6 t% N" x( e, U
Level 5, 15 – 19 Claremont Street, South Yarra VIC 3141 4 ?) n0 V+ Q# s8 a0 r
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