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CreditorWatch Blog

Managing your money through managing your debtors

Insolvency

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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Australian businesses must pay attention China’s economic slowdown

Australian businesses must pay attention China’s economic slowdown

China’s economic slowdown is forecast to trigger increased trade credit risk in Australia and the broader Asia Pacific region, according to new Atradius research*. The Atradius 2015 Payment Practices Barometer for the Asia Pacific region found that Australia and Indonesia, both of which are heavily dependent on commodity exports to China, were particularly susceptible to […]

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Knowing when to outsource your debt collections

Knowing when to outsource your debt collections

Is it time to outsource your debt collection? Growing debt levels, rising bankruptcy rates and positive industry reform stemming from revised debt collection guidelines issued last year have led many Australian businesses to seek professional help in recovering their customer debts. If you’ve never outsourced your business’ debt collections before, it can be daunting knowing […]

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400 businesses in Melbourne and Perth to be audited by FWO

400 businesses in Melbourne and Perth to be audited by FWO

250 businesses in Melbourne’s Dandenong region will be audited by the Fair Work Ombudsman as part of a new campaign to check that employers are paying the correct minimum hourly rates, penalty rates, allowances, loadings and providing appropriate meal breaks. Fair Work Ombudsman Natalie James says the Dandenong region is home to thousands of businesses […]

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Customer service vs. chasing payments: Getting the balance right

Customer service vs. chasing payments: Getting the balance right

Customer service vs. chasing payments – it can be tough to get the balance right between keeping a customer happy and getting your bills paid on time. There are few things tougher for an SME than trying to collect overdue invoices from clients while also keeping them on-side. To ensure this process is made as […]

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Recent surge in ATO wind ups – Directors failing to consider the utility of Voluntary Administration

Recent surge in ATO wind ups – Directors failing to consider the utility of Voluntary Administration

Despite the recent tax amnesties granted to wealthy individuals with monies in offshore tax havens the Australian Tax Office has been militant in its recent debt recovery efforts against SMEs. The importance of efficient credit management has again been brought to the forefront as smaller operators who have essentially been using the ATO as a […]

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Cash flow is a whole of business system, not just an invoice and collect system

Cash flow is a whole of business system, not just an invoice and collect system

In recent times the amount of articles and blogs in business circles written surrounding the topic of small business debtors and the ability to get paid on time, if printed, would probably be enough to cover the entire country in paper. I certainly know that I have covered this topic in the past and yet […]

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What to do when your customer doesn’t pay

What to do when your customer doesn’t pay

No matter the size of your business, if you’re offering credit to your customers it’s highly likely at some point you will do work for a customer who will blatantly refuse to pay. The most effective tool for collecting money you are owed is simply picking up the phone and asking your debtors if there […]

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Personal Property Security: It’s In The Ts & Cs

Personal Property Security: It’s In The Ts & Cs

The Personal Property Securities Act 2009 (PPSA) was quite the landmark move for Australian business, providing a single national law that replaced separate Commonwealth, State and Territory laws, leading to the establishment of the Personal Properties Securities Register (PPSR). Australian businesses suddenly had one place they could register personal property as a way to secure […]

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