Australian SMEs face financing drought, RBA official says
Traditional banks are averse to lending to innovative small firms, assistant governor says
Australian small and medium-sized enterprises (SMEs) struggle to obtain investment despite “throwing the kitchen sink” at innovation, a senior official at the country’s central bank has said.
Lenders see SMEs as twice as risky as their large counterparts, Brad Jones, a Reserve Bank of Australia (RBA) assistant governor, said on April 4. Some 30% of small and 25% of medium-sized firms in Australia reported accessing finance to be a barrier to innovation.
Large firms’ investment in research and
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