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CreditorWatch Blog

How to protect your small business from fraud

How to protect your small business from fraud

Reading Time: 4 minutes The pandemic, alongside the rise in technology advancements, has forced SMEs to change the way they operate. This can be anything from altering their business models and plans to keeping up with ever-changing customer trends. The last thing an SME needs is added fraudulent behaviour from trading partners, customers and even employees. According to a […]

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‘Perfect economic storm’ means the end is nigh for struggling Aussie businesses

‘Perfect economic storm’ means the end is nigh for struggling Aussie businesses

Reading Time: 6 minutes CreditorWatch has released its Industry Synopsis for June. Industry data, coupled with stats from its Business Risk Index (BRI)*, point to an increased probability of default for a number of industries, as the threat of rising interest rates finally eventuates. Australia is currently experiencing a ‘perfect economic storm’ of increasing cost of debt, labour and […]

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What can subcontractors do if a builder enters voluntary administration?

What can subcontractors do if a builder enters voluntary administration?

Reading Time: 4 minutes Construction giant, Probuild, recently entered voluntary administration, leaving more than 750 jobs at risk and around 2,300 creditors chasing payment. This has created a massive shockwave throughout the building and construction industry, which has been under significant pressure over the past two years due to COVID-related supply chain disruptions, cost blowouts and labour shortages. Probuild’s […]

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Seven reasons why small businesses should use accounting software

Seven reasons why small businesses should use accounting software

Reading Time: 4 minutes How is your business managing its finances? If you’re still using folders and spreadsheets, it’s time to revamp your approach. An accounting software package streamlines all your accounting processes, making it easier to stay on top of your finances. It provides a central platform for financial management; helping you track your cash flow and see your financial position in real-time. By improving the speed […]

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Industry Synopsis for CreditorWatch’s January 2022 Business Risk Index

Industry Synopsis for CreditorWatch’s January 2022 Business Risk Index

Reading Time: 5 minutes Omicron heavily drags on trade receivables and prolongs recovery The latest CreditorWatch Business Risk Index captures circumstances for January 2022, a month when Omicron bit the economy hard and smashed the optimistic expectations of thousands of Small and Medium-sized Enterprises (SMEs). The CreditorWatch Business Risk Index (BRI) provides unique insights into the health of Australian […]

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How to take your credit checks to the next level

How to take your credit checks to the next level

Reading Time: 4 minutes Protect Your Business with AI-Driven Credit Checks  Signing any agreement before you have all the information is risky business. As a business owner, it’s in your interest to exercise due diligence to ensure you know who you’re getting into business with. With every transaction, there is a chance you’re opening yourself up to the risk of financial […]

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What are zombie companies and how do you identify them?

What are zombie companies and how do you identify them?

Reading Time: 4 minutes The term ‘zombie company’ has been around since the late ’80s when the Japanese economy collapsed, and banks propped up many large corporations that would have otherwise failed. It has come to refer to any business that is so debt laden that it is only able to pay the interest on its loans, not the […]

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Tips and Tricks for streamlining the business credit application process

Tips and Tricks for streamlining the business credit application process

Reading Time: 3 minutes By Luke Matthews, Senior Business Development Manager – Queensland, CreditorWatch Credit applications are a critical part of onboarding new customers. Put simply, a credit application is an essential contract that allows you to do business with a new customer. However, the manual and paper-based approach to client onboarding that many businesses currently use is time-consuming and open to human […]

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Gain confidence to resume trading as restrictions ease across Australia

Gain confidence to resume trading as restrictions ease across Australia

Reading Time: 2 minutes New challenges as businesses resume trading Restrictions are easing across states and businesses are reopening across Australia. As trading resumes under new and evolving conditions, most small and large business owners are eager but also hesitant, remaining cautious that things could change very quickly. Re-emerging into the post-lockdown era, businesses need to be aware of new risks. During this […]

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