DEBTOR FINANCE NEWS

2006 - DEBTOR FINANCE INDUSTRY WILL CONTINUE TO BOOM AND OXFORD FUNDING WILL BUILD ON ANOTHER GREAT YEAR.

During 2006, the Australian Debtor Finance industry is expected to continue its present rate of rapid growth. This follows the release of figures to December 2005 which show the twelve months resulted in a growth of 19% to $37 billion.

Australia’s leading Debtor Finance specialist, Oxford Funding, will build on its excellent 2005 which included the following achievements:

‘In just 12 months, Oxford Funding made massive steps forward,’ says Oxford Funding’s Rob Lamers. ‘We are now a bigger and different business with a much wider range of products, a different operating base and position in the market.

‘Oxford Funding finished 2005 as the big mover of the year in the Debtor Finance industry. We have lead the way in innovation and taken the industry to the next level. In 2006 we will continue to build on what we achieved last year; with many other initiatives.’ Lamers said.

BUSINESS NEWS & OUTLOOK

R&D SPEND CRASHES
Research by KPMG has shown Australian business is currently spending far less on research and development than the OECD average. It says the present local rate of 0.8 percent of turnover compares miserably with other industrialised countries which are above 2 percent and the bad situation is accelerating Australia’s industrial slow-down.

SKILLED STAFF SHORTAGES
The warnings by the RBA about inflationary pressures from wages due to skills shortages has been backed by a Government report which reveals in just 5 years nearly 200,000 workers are due to retire. The RBA insists this is among the biggest single factor which will pressure interest rates for on-going rises.

WORRIED WAGE EARNERS
An international survey of 18 leading industrial nations has found 20 percent of Australian workers fear they will lose their jobs within this year. This reduction in confidence from a year ago has put Australia into the bottom 5 nations where workers were least confident; alongside US and UK.