Business News Australia.com.au

Built circa 1888, “Moana” or “Franklin Manor” as its known today, was built as a labour of love by the then Master Warden of the Strahan Marine Board, Captain Edward Miles.

“Franklin Manor” is now operated as a boutique hotel and restaurant and proudly surveys the popular tourist and fishing village of Strahan and the Maquarie Harbour.

Strahan is a bustling tourist town, voted ‘The Best Little Town In The World’ by the Chicago Tribune, and is the gateway to Tasmania’s Tarkine Wilderness, with a multitude of natural wonders to explore in the region. >>>READ MORE

Wednesday 19 August 2009

Throughout the economic downturn, Australia’s banks have outperformed their global counterparts when it comes to home loans.

The news comes from the Reserve Bank of Australian (RBA), which has commented this week on the strength of the country’s financial systems.

Speaking at the seventh Annual Retail Financial Services Forum, assistant governor Malcom Edey reviews the banks’ performances in a variety of sectors from shares and profits to loan approvals.

When it came to home loans, Mr Edey explained that Australia has a “favourable position” compared to other countries, with lower loss rates than the UK and US.

This is because mortgages are full-recourse, adding an incentive to borrowers, including those looking for low interest home loans, to avoid over committing themselves financially.

Also, the Uniform Consumer Credit Code ensures that lenders distribute home loans responsibly, he remarked.

“It’s a great advantage during an economic downturn to have a banking system that remains profitable and is able to continue lending,” he said.

Research from Deutsche Bank has suggested that banks have begun to restrict lending to first-time buyers the Sydney Morning Herald reports.

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This easily managed excellent household name TOYWORLD toy store was bought by the present owner as a Migration Business to meet the Australian authority’s specified requirements. It is now time to retire and enjoy all the life style Tasmania has to offer therefore the business is again available.

The Business is located in Burnie Tasmania on the Main Street downtown and shows excellent turnover approaching $1.0 million excluding GST with a good GP percentage in the high thirties with excellent profits. The turnover has increased substantially in the last year following an expansion of the retail space. It is well set up with excellent business systems in place and well trained highly motivated staff which ensures its smooth operations. READ MORE >>

Loan Market is Australia’s fastest growing home finance broker group. With more than 500 Mortgage Brokers and staff across every state in Australia and in New Zealand; securing in excess of $600 million in home finance each month, we bring to you every major residential, commercial and business bank and lender in Australia, along with a wide range of leasing and personal finance lenders and deposit bond providers. Our brokers especially understand the real estate market, and have access to over 400 loans. In fact, it’s hard to imagine a loan we haven’t seen.

Our mortgage broker team has an excellent understanding of the competitive finance market and the right tools, processes, accounting practices, controls, and technology to assist you in finding the home loan that is in your best interest. They are also supported by a knowledgeable and committed team of core staff >>>READ MORE

MORE small businesses are confident about posting a profit in the second half of 2009 as the outlook for the domestic economy improves, a survey says.

The findings are in the National Australia Bank’s (NAB) survey of small and medium enterprises (SME) for the June quarter.

The report’s measure of the outlook for profitability among SMEs improved 28 index points to edge into positive territory at plus-one points in the quarter.

A reading above zero indicates optimists outnumber pessimists.

NAB business executive general manager Geoff Greer said while things remained tough for SMEs, the survey represented the “first glimmers of positivity for the future”.

“SME businesses are the real economic drivers in Australia,” Mr Greer said.

“This will be welcome news to businesses and governments who are hoping that we have turned the corner and are beginning to return to a period of prosperity.”

Mr Greer said recent improvements in consumer confidence and government stimulus had had a positive impact on the domestic economy and “in turn had a flow on benefit to SMEs, particularly medium sized businesses”.

The survey’s measure of business confidence among SMEs rose 15 index points to minus-seven points.

Despite the improved outlook for profits, the report found business conditions among SMEs remained sluggish.

The survey’s measure of business conditions rose two index points to minus-10 points in the June quarter.

The finance, insurance and retail sectors experienced the strongest improvement in business conditions, while manufacturing and construction companies suffered.

Among the states, South Australia and Western Australiareported the best business conditions.

The pair, along with New South Wales, were above the national average.

NAB business NSW general manager Jaap Jonkman (Jaap Jonkman) said the survey’s showed optimism among the state’s SMEs was “slowly returning”. Victoria and Queensland were below the national average.

The survey interviewed about 650 companies with an annual turnover of between $2 million and $10 million.

Source

news.com.au/business/