Have Your Say

Have Your Say allows the Small Business Development Corporation (SBDC) to consult small business owners and managers via regular online questionnaires, on topical issues of importance.

While this is not a formal survey process, the results from these polls act as an effective litmus test of the sentiment of the small business sector and enables the SBDC to "keep a finger on the pulse" regarding current and emerging issues.

Survey on Finance

October 2015

During October 2015 we polled small business owners in Western Australia to find out more about their experiences accessing finance. There were a total of 41 respondents to our poll.

Business information:  





The most significant source of finance was financial institutions,  followed by family and friends, finance companies, and trade credit. Eleven percent of respondents indicated that they were self-funded businesses and did not source finance from external providers.  



Of the respondents that sourced finance through financial institutions, 67 per cent indicated that they had a relationship with one bank only.  



In terms of obtaining finance from a financial institution in the past five years, 30 per cent of respondents indicated that they had been unsuccessful.  The main contributing factors were:

  • lack of security
  • lack of financial statements for previous years due to being a start-up business
  • legislative changes that impacted on lending behaviour
  • inadequate record keeping.



A third of all respondents indicated that they were likely or very likely to obtain finance in the next six months. Of those that indicated they were unlikely or very unlikely to obtain finance the main reasons provided include:
• changing economic conditions
• requirement for security or personal guarantees
• trying to reduce debt
• additional finance not required in the near future.  



In terms of reviewing the relationship with their financial provider, 32 per cent of respondents indicated that they had not reviewed for some years.  Only ten per cent indicated that they were always looking round for the best lending services. 




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To find out more about Have Your Say

If you would like to know more about Have Your Say, please contact:

Policy and Advocacy
Small Business Development Corporation
Email policy@smallbusiness.wa.gov.au
Telephone 13 12 49

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