It’s usually at this time of the year when we collectively sigh and ask “Where did that year go?” If life is what happens when you are busy making other plans, then you may have missed some critical happenings in 5 areas that could impact you in 2018. Let’s have a landscape big picture view […]
With any business relationship, performance is only ever as strong as the trust you hold in one another. And as your relationship progresses with a client where trust is lacking, it’s harder to cut ties and accept your losses. It’s critical then to decide whether a prospective client is the right fit for you and […]
Kmart, Deloitte, Yahoo, Virgin America and the C.I.A. – no doubt these names are familiar to you, but did you also know that these organisations (and others) were all involved in some of the biggest data breaches of 2017? Your digital footprint and your data is everywhere, you hand it over unwittingly every day of […]
If your business has a tax debt, you’re not alone. The Australian Tax Office (ATO) was owed $12.5 billion by Australian small businesses at 30 June 2016. While most of this was paid on time, many businesses cannot afford to pay their GST and PAYG debts, as well as their superannuation debts, by their due […]
All businesses, even great ones, face challenges. Despite your best efforts as a director to maintain your company’s prosperity, some challenges can be too much to overcome on your own. In Australia, 7,464 companies entered liquidation or administration in the 2016/2017 financial year, according to the Australian Securities and Investments Commission (ASIC). Financial difficulties are […]
It’s that time of year (again) when you have to decide whether you should “take the hit” and write-off that bad debt and (subject to complying with ATO requirements) claim a deduction OR keep chasing the debtor. You can do both of course, but often once the debt is off the books and not front […]
You’ve done the work, you’ve invoiced. Now you wait. Every business owner knows the challenge of getting debtors to pay on time. But is there more you can do to keep the collections train moving forward when other businesses stall? Put simply, yes. Businesses that are effective in making collections have aligned their credit control […]
It is very common these days to see Companies using trading Trusts as a vehicle to run their business. So how should you open an Account for your Customer if the Credit Application has been filled out in the name of a Trust? A couple of points should be made at the outset: – A Trust […]
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 […]
We all start the new year with the usual well-intentioned resolutions (lose weight, get fit, find love…) but after a few weeks (or sometimes, hours) we are back to our old habits. In 2017, more than any other year, the outlook both nationally and globally is uncertain. Will the Turnbull Government’s one seat majority last? […]