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CreditorWatch Blog

Managing your money through managing your debtors

Insolvencies set to increase in Australia in 2017

Insolvencies set to increase in Australia in 2017

Australian businesses are set to experience an increase in insolvencies this year as a result of another difficult economic year, according to the recently-published Atradius Economic Outlook. The likely 2% increase in insolvencies puts Australia in step with the UK and Canada.  The improving trend in the business environment across Australia and other advanced economies is […]

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SME Cashflow Problems Are Bigger than You Think

SME Cashflow Problems Are Bigger than You Think

Recently the general lack of cashflow within SMEs in Australia was investigated by Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman, ASBFEO. She found that, contrary to what many might believe, the actual reason why small businesses are experiencing cashflow problems is due to slow payers, and those payers just happen to be […]

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Rise in cancelled unincorporated entities a concern for all businesses

Rise in cancelled unincorporated entities a concern for all businesses

The number of failed unincorporated entities has significantly increased from the September quarter of 2015. The findings were revealed in CreditorWatch’s latest Small Business Risk Review, which also shows a continuous high in national payment defaults (+67%) during Q4 2016. Unincorporated entities (typically sole traders and partnerships) are commonly small privately owned businesses. The operators […]

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IP Australia adopts image recognition tech to help SMEs better protect their trade marks

IP Australia adopts image recognition tech to help SMEs better protect their trade marks

The national intellectual property agency has introduced world-leading trade mark image recognition technology to make it easier for Australia’s small businesses and entrepreneurs to protect their logos and brands. The technology has been incorporated into IP Australia’s new Australian Trademark Search Tool to make the process of searching for similar logos simpler and faster for […]

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Transparency of unsettled tax debts to affect business credit ratings

Transparency of unsettled tax debts to affect business credit ratings

A new arrangement will come into effect from 1 July 2017 that will allow the Australian Tax Office to contribute information to credit reporting bureaus (including CreditorWatch) about Australian businesses with unsettled tax debts over $10,000 that are 90 days overdue. Businesses that have not paid their tax debts to the ATO will likely hurt […]

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Call for government to consider UK regs to help ensure big businesses pay SMEs on time

Call for government to consider UK regs to help ensure big businesses pay SMEs on time

The Coalition has been urged to follow the example set by the UK Government and introduce legislation to deter big business from making late payments to SME suppliers. From April 2017, large companies and limited Liability Partnerships (LLPs) in Britain will be required by law to publicly report twice a year on their payment practices […]

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A permanent $20,000 instant asset tax write-off for businesses tops SME wishlist, MYOB finds

A permanent $20,000 instant asset tax write-off for businesses tops SME wishlist, MYOB finds

Seven in ten small businesses want the $20,000 instant asset tax write-off to continue past 30 June, this year, when it is due to expire, according to accounting software provider MYOB. The latest MYOB Business monitor, a bi-annual survey of more than 1,000 small businesses, asked operators what policies they would and wouldn’t vote. MYOB […]

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How will the economy Impact SMEs in 2017?

How will the economy Impact SMEs in 2017?

September 2016 was a mixed month for the Australian economy, and one that brought both incredible milestones and sudden, unexpected troughs. To begin with, the end of the month saw Australia complete its 100th consecutive quarter without a recession, continuing a 25-year growth streak that is the second highest in history. Given that this period includes the […]

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