MEDIA RELEASE
SMEs TO DRIVE AUSTRALIAN ECONOMY BACK INTO GROWTH: ACCOUNTING FIRM
WHK Horwath sees increased activity among medium sized enterprises for corporate advisory services
Sydney, December 3, 2009: Accounting firm WHK Horwath - which specialises in working with small to
medium sized enterprises across Australia - is seeing the first positive signs of increased demand for
corporate finance and advisory services among the SME sector.
Tapping SME sentiment across the country via a series of workshops the firm has been running, Horwath
says there is no doubt the heart-rate of the sector is picking up again for the first time in over two years.
As Brad Higgs, head of the firm's Corporate Finance division, says: "The green shoots of economic
recovery are starting to sprout now for the Australian economy. But it won't necessarily be the larger
corporates who will take Australia back to the days of pre-GFC glory, it will be small to medium sized
businesses that will drive employment, investment and economic activity again.”
Higgs said his predictions are reinforced by recent market studies - including yesterday’s Sensis Business
Index - which shows SMEs are becoming more bullish about the future and where 2010 is heading.
“WHK Horwath, which specialises in providing business and finance support to this sector, is seeing the
strongest indications yet this recovery is now starting to take shape and that companies are looking for
support around issues such as capital raising, merger and acquisition activity and so on,” he said.
"The last 24 months have been a time of survival. SMEs now need to position themselves for the
opportunities the next 12-18 months will offer. It will be survival of the fastest, not just the fittest. Those
companies that have used the economic downturn to ready their businesses for the future will be
fastest out of the blocks when it comes to tapping potential funding, capital raising and other
opportunities the Australian economy will offer in terms of growth, expansion and development."
----------------------------------------------------------------------------------------------------------------------------------------
For more information, please call:
Chris Gray, ICON Communications:
(02) 8235 7600
0410 535 999
Jennifer Hough, ICON Communications:
(02) 8235 7600
0400 307 647
NEWS 
