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CreditorWatch Blog

Managing your money through managing your debtors

Risk Management

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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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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Three rules to find the right customers for your business

Three rules to find the right customers for your business

When you start a business, it isn’t just about what you do well that ensures your path to success, but your customers. Don’t fall into the trap of accepting any client because you’re desperate for business: if you are careful and patient at the beginning, it will pay dividends for your business and your reputation […]

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Put accounts receivable systems in place

Put accounts receivable systems in place

After spending years getting yourself up and running, working on sales and the front end, it’s likely that the back end— accounting practices and accounts receivable —have been somewhat forgotten. With more and more companies defaulting on payments, going into administration and getting wound up by the ATO, now more than ever is the time to […]

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Debunking common misconceptions about bankruptcy

Debunking common misconceptions about bankruptcy

Personal insolvency is a growing market with more and more people declaring bankruptcy or entering into other personal insolvency arrangements to address credit issues arising out of consumer credit, business related debt or over leveraging problems, amongst other things. In this post, we seek to address some common misconceptions about bankruptcy, in order to empower […]

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Risks of legal non-compliance

Risks of legal non-compliance

Undertaking an annual legal health check of your company is one of the best decisions you will make for it’s reputation, growth and for your sanity. Compliance and risk management don’t sound very sexy but they are crucial to having a sound business and are drivers to achieving business excellence – we call it Future-Proofing. […]

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Pitching for funding: hitting the right note

Pitching for funding: hitting the right note

The startup world is alive and bustling with entrepreneurs, investors, accelerators and a growing network of support industries. The Startup Economy study undertaken by PwC and commissioned by Google highlights that with the right support and growth, this could contribute over $100 billion to GDP and create over half a million new jobs by 2033. One of […]

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