ANZ is watching small biz customers
11/01/2010
ANZ Bank is keeping a close eye on its small business customers to ensure they are coping with the economic slowdown.
Many will be depending on the summer sales and Christmas season to provide enough cash to enable them to stay in business.
ANZ deputy chief executive Graham Hodges says larger businesses have been using their market position to push the working capital pressures back into the small suppliers.
"They're the ones who will be the buffer for the bigger companies and I don't think we've seen that cycle all the way through yet."
Mr Hodges also said that rising interest rates would test many small businesses in 2010.
Source: The Age
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