Parramatta. Rates rise on SME sector

Schon Condon, a principal of forensic, turnaround and insolvency practitioners, Condon Associates, in Parramatta, predicted any second or third interest rate increase would have the greatest impact on the SME sector. “The areas that will be hit first are going to be retail and hospitality and restaurants because people (consumers) will have to put increasing amounts aside to deal with housing loans and the like. That will initially come from discretionary spend. Anything in the high-end discretionary spend will be first affected,” he said in The Australian Financial Review.