Cashflow
The holiday season can be a stressful time for small business owners. While many Aussies around the country are happily switching on their ‘out of office’ and heading straight to the beach, this time of year is a little different for those who run their own business. According to new research commissioned by Prospa, almost […]
After 12 years working in lending, I’ve had many experiences of a customer needing to urgently increase their overdraft. The cause was nearly always a purchase that left the company unable to make payroll. In serious cases, we had to restructure their loans because they lost control of their stock, leading to penalty interest and higher […]
Late payments are a constant source of stress and strain for Australian small businesses. Research from Intuit reveals that small businesses are left an average of $13,200 in the red by late paying customers. This can have a serious effect on cash flow. Not only that, but small business owners end up spending an average […]
There’s a reason that you often hear the phrase ‘cash is king’ as a small business owner. No business, irrespective of its size, can sustain itself without a healthy amount of cash in the bank. Even Tesla, the leading electric car manufacturer and technology pioneer, saw its share price nosedive following concerns its cash reserves […]
Many small business owners find themselves half way into the new financial year before they realise they’ve only got a vague idea of their business resolutions for the year. And, with almost half of small business owners across Australia working six or seven days a week, it can be hard to find the time to […]
The second Small Business Risk Review for 2018 highlights relatively stable conditions in comparison to the previous financial year. However, there is still an underlying trend where businesses are facing challenges. It is no surprise that we continue to see big jumps in dollar amounts and court actions in Queensland due to the end of […]
Let’s face it. Running a small business can be exciting but hard work. You’ve implemented your big ideas and it’s working. However, you might not be in the position to be able to afford to hire extra staff yet. This means that many business essentials, like accounting and marketing, might have to be completed by […]
With 30 June 2018 fast approaching, now is a good time to ensure your year-end strategies are in place. In doing so, it is worthwhile considering the following list of ‘Business Considerations’. Base rate entities From 1 July 2017, the tax rate for companies that meet the definition of a “base rate entity” is 27.5%. […]
CREDITORWATCH | 5 MIN READ Do you have a blind spot in your business that is hidden, waiting to make an appearance when you least expect it? A car’s engine doesn’t run well or may even fail to work if one part goes wrong. For example, if the timing belt breaks, then your car is off […]
In a perfect world, suppliers would prefer to be paid cash up front. However, in reality, the world works on credit. Trade credit is inevitable and so is the debt that comes with it. For most businesses, trade credit is essential for growth as businesses don’t have to pay suppliers on the spot but rather […]