Why is it Harder to Obtain Credit in Australia?   Have you struggled to obtain credit in Australia recently and are unsure why? What have been the recent developments in Australian Credit Law? What should small to medium (SM) business owners and credit providers consider when providing credit in the current climate? Obtaining credit in Australia can be more challenging due to economic conditions, regulatory frameworks, and individual creditworthiness. Still, in recent years, there have been developments in Australian Credit Law (ACL) which require lenders to be more responsible when providing credit:   Regulatory Environment: Australia has strict lending regulations

Understanding Credit Provision for Businesses in Australia   In the competitive landscape of small to medium (SM) businesses in Australia, offering credit to clients can be an effective strategy to boost sales and foster customer loyalty. However, it comes with its own set of challenges and considerations. Here are some key factors that SM businesses should keep in mind when providing credit to clients.   Assessing Customer Creditworthiness Before extending credit, businesses need to evaluate potential clients' creditworthiness. This can be done through credit checks. SM businesses should analyse financial statements and consider the client's payment history. Tools and services are available to help