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Showing posts with label Financial Stability Review. Show all posts
Showing posts with label Financial Stability Review. Show all posts

Sunday, September 25, 2011

40% of small businesses posting losses: Reserve Bank

The share of small unlisted firms making losses remains at above average levels, with about 40% of firms with assets under $1 million reporting losses in 2010 and 2011, according to figures from the Reserve Bank.

This is well above the 25% average over 2006 to 2008.

Releasing its Financial Stability Review, the central bank said while Australian businesses were better placed to deal with any downturn because they had had deleveraged during the GFC, it remained unclear how the European sovereign debt crisis and anaemic growth in the US would play out in the short-to-medium term.