29/06/2022
With New Zealand being in the middle of the perfect storm for inflation (Global pandemic disruptions causing capacity and demand issues, Russiaβs war against Ukraine making fuel prices skyrocket and domestic inflationary pressures out of control), the reserve bank has raised the official cash rate by 50 points.
Of course, this saw the mainstream banks follow with an interest rate increase. These banks are now offering floating interest rates between 5.85% - 5.95%.
It goes without saying that with the cost of necessities such as food and fuel increasing, and the interest rates for homeowners increasing, discretionary spending will be squeezed.
If your business services fall into the category of discretionary spending, it could have a profound effect on your business.ding, it could have a profound effect on your business.
Fee Funders is here to help. We offer your clients split payment of your invoices at super low interest rates.