The majority of SMEs are planning to expand in the next 12 months, according to study.

According to new data, small businesses across the country are once again optimistic about the future and ready to embark on their next phase of expansion.

Before we get into the details, we’d want to emphasize that we’ll do everything we can to keep this post as non-partisan as possible.

We understand that everyone has different choices, interests, and beliefs, and that home affordability may not be one of them, so we’ll only walk you through each of the policy’s elements below.

We’ll start with the incumbent government’s policy pitch, as is common with these types of events.

Entrepreneurs are also looking for investment.

According to the findings, seven out of ten business owners have changed or are planning to make changes to their company.

This is in addition to 71 percent of business owners stating that they want to access cash in the near future to avoid further interest rate hikes.

“Not only are small firms optimistic, but surveys suggest that they are going to apply for funds sooner rather than later to avoid paying extra on their repayments,” Mr Bertoli says.

Heads-up! The financial year's end is approaching quickly.

Another important reason why small business owners are seeking funding in the coming weeks is to take advantage of the federal government’s temporary full expensing scheme for this fiscal year.

The scheme allows firms who want to invest in their future to write off the full cost of any qualified depreciable asset they buy.

This can help with cash flow by allowing you to reinvest funds into your company sooner.

Trucks, coffee machines, equipment, excavators, and automobiles are just a few of the assets that qualify for the scheme.

But here’s the catch: the asset must be installed and ready to use by June 30 in order to be eligible for this financial year.

So if you’d like help obtaining finance to make the most of temporary full expensing ahead of the impending EOFY deadline, get in touch with us today.

We can help you with financing options that are well suited to your business’s needs now, and into the future.

To learn more, contact Premium Finance Group Australia at (07) 4720 8888 or email us at finance@pfga.com.au

Disclaimer: The content of this article is general and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your situation and may not be relevant to circumstances. Before taking any action, consider your particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced, or republished without prior written consent.

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