Tuesday, September 15, 2009

The Federal Government will make the Export Finance and Insurance Corporation able to provide funding for small businesses to assist with their export efforts.

The Federal Government announced that it will extend the authority of the Export Finance and Insurance Corporation so it can offer finance for small Australian businesses to help them to export their products and services and expand their overseas operations.

A new eligibility test will be introduced for smaller companies, who are defined as having yearly revenue of up to $100 million.

A Dun and Bradstreet report this month says that 46% of Australian businesses expect increased sales in the December quarter. But even though the outlook is improving, smaller firms have difficulty obtaining finance for export or offshore activity.

The extension of the Export Finance and Insurance Corporation’s capacity to fund small firms requires a legislative change.

The smaller Australian business will be offered finance, finance guarantees, bonding, and insurance facilities to develop export markets.

As the economic climate improves, small businesses will be the driving force of improving the level of employment and need all the assistance they can get.

We help with our Local Search facility in our Australian Business Directory, which has over 1.2 million businesses listed. Most of the listings are small businesses, and we provide them with qualified prospects at no cost to them.

Monte Huebsch, CEO.

2 comments:

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    Kara Stephens
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