How to survive the credit crunch

Accountant Rami Brass received a shock last week while helping a newsagency client raise some money to buy the neighbouring business.

Former academic Tim Atterton believes Australia's tax system sets up small business for failure in times like these by discouraging the retention of profits, distracting management and undermining strong balance sheets.

While the short-term macro-economic picture looks increasingly bleak, many still believe in the Western Australian story, driven by an insatiable demand for raw materials from China and other developing nations.