Content area
Full text
INNOVATION
Helping other people clear their financial mess is rewarding, Morris Kaplan reports
THERE'S never been a better time to take advantage of the expansive opportunities that the internet affords an entrepreneur. Broadband penetration, already more than 50 per cent of Australian households, is set to reach 75 per cent in a few years.
With consumers "always on" to the internet, business operators can incorporate the staggering ability of the net to reach out to their customers.
At large, the financial services sector has been one of the principal beneficiaries. Consider, for example, Tammy May, who at 22 established MyBudget in 2000, offering a service that physically takes control of the budgets of those with bad debts.
"We're not an internet business but the internet is critical to our business," May says.
MyBudget specialises in helping people manage their personal finances.
"Many of our clients have defaulted on their debts. This can impair a person's credit records and that can prevent them from buying a home. Young people in particular are vulnerable."...