Our data shows that Australian SMEs are heavily dependent on JobKeeper. Since its introduction, JobKeeper has been the cash flow support that has helped many businesses continue to keep their doors open and hold on to key staff members.
When the eligibility criteria for JobKeeper tightened in October, 43% of businesses already receiving JobKeeper were still eligible and needed the support. For a lot of these businesses, JobKeeper was the lifeblood of their business, making up a significant portion of their revenue.
With JobKeeper having finished, many Australian SMEs will need alternate cash flow support options. The value of a broker in offering business finance solutions will be greater now than ever before.
Timely access to capital can make or break your customer’s business post JobKeeper.
Whilst there are uncertain times ahead, business owners are also aware that there are opportunities on the recovery side of the pandemic. By providing your customers with the confidence, certainty and cash flow they need today, you’re providing them an opportunity to future proof their business.
GetCapital’s Business Overdraft is the perfect product to give SMEs the confidence to plan for uncertainty. Its favourable terms and cost structure provides my clients with the cash buffer they need, without incurring any costs until they use it.
– George Dib, Amfin Finance.