US EditionBusiness Group Pushes for US-Style Loan Guarantees as Retirement Wave Looms
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Business group pushes for US-style loan guarantees as retirement wave looms
Could a US-style loan scheme save thousands of Australian businesses from closure as owners retire? What’s happening: Coraggio, representing private business owners, is urging the Federal Government to introduce a US-style loan guarantee scheme to help buyers acquire existing businesses as hundreds of thousands of ageing owners prepare to retire, with 22% of small business owners now aged 60 or over. Why this matters: Without succession support,…
Business owners seek a US style small-business loan scheme
As Australia’s small-business sector faces potential widespread closures as older owners retire, one of Australia’s largest groups of private business owners has urged the Federal Government to introduce a US-style loan guarantee scheme In its proposal, Coraggio suggests that Australia adopts a model similar to one used by the United States’ Small Business Administration (SBA), which guarantees loans for buyers of existing businesses, reducing b…
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