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As we say goodbye to 2020 and start our journey into the new year, we thought we would take some time to review the Western Australian economy, what has been and what’s in store for 2021. WA economic outlook: From uncertainty to resilience   Through what has been a very trying year for all, WA has been able to endure the global economic impacts of COVID-19. The states resilience has been aided by our mining production and commodity demand continuing in overseas export markets, with WA’s 2019-20 mineral and petroleum exports coming to a record total value of $173.7 billion....

Several business finance options can assist you if you’re considering purchasing an existing business, whether buying into a business or buying the entire business. But first, you need to know what to look for in a business to ensure it’s suited to you. 6 Questions to ask when buying a business Buying an existing business can be easier than starting a business from scratch. It removes the pain and risk of getting the business off the ground. Once you have decided what type of business you’re interested in, you will need to do some due diligence and check its financial...

The way we work, live and go about our everyday lives has changed quite a bit in recent times. Although Covid-19 continues to have a significant impact the economy, the Perth housing market has been somewhat resilient. Sometimes it pays off to be one of the most secluded states in the world! Australian property market outlook It’s no doubt that Covid-19 has had an immense effect on the Australian housing market. One of the most prominent impacts has been the reduction in new immigrants, with overseas immigration going from around 250,000 people a year to practically zero in just over...

Have you ever thought about setting up a small business in Australia but have yet to follow through? Now is the best time to become that entrepreneur you have always wanted to be. Business success results from a strong business model and a unique idea purposefully built to solve problems. Let’s take General Motors, Airbnb and Uber as examples. All three businesses were created to solve a problem. What makes them even more interesting is they were founded during economic downturns. The current business climate is challenging to navigate, so it’s essential that you surround yourself with several professional advisors...

Did you know that Millennials born between 1981 and 1996 are the largest generation yet? By 2025, most Millennials will be in the workforce, and the next generation, “Gen Z,” will have entered. We are familiar with new generations entering the workforce but what do younger generations have to offer and why should businesses have a key focus on creating a multi-generational workplace? Can you imagine being born into a world where your parents could use Google to search for ‘most popular baby names’? Gen Z has lived and breathed in a digitalised world from the moment they were born,...

Funding growth, expansion, or other working capital requirements are always something business owners think about. If you are seeking a business loan facility, your business credit score will indicate your ability to repay the loan. In this article, we explain a business credit score, why you want it to be a good score, what influences it, and tips to improve it.  What is a business credit score? Financial institutions (banks/lenders) use your business credit score as an indicator of your creditworthiness. It is calculated using the information listed on your company credit file. In addition to financial institutions assessing your...

There are various finance solutions available for businesses, and the role of commercial finance brokers has become more important now than ever before as we support these businesses and create market clarity. What questions should you ask yourself before applying for a business loan? The best business loan option will vary depending on the type of business and its requirements. Several different loan products are available; it’s a matter of choosing an option to achieve the best outcome. At Ledge, we ensure businesses are fully aware of what options may be best suited to them. To achieve this, we ask key...