The PPS Registrar’s roundtable held an interesting discussion about PPSR and where small businesses fit into it. The main theme emerging from the roundtable discussion was that small businesses feel confused. Small businesses fall into three categories: Those who don’t know about PPSR Those who know about it but can’t comprehend it as it is […]
The final quarter of 2018 for small businesses didn’t exactly present the best outcome. Court actions and judgments across Australia (except WA) have increased significantly in the 4th quarter of 2018 in comparison to the previous year. In addition, the average payment default value and cancelled unincorporated entities have increased. Download the infographic New South […]
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 […]
CreditorWatch’s Small Business Risk Review for Quarter 3, 2018, shows an improvement in conditions for the majority of Australia in comparison to Quarter 3, 2017. Download our infographic Court actions and dollar amounts have decreased from last year’s third quarter for all states except Victoria. Western Australia has seen its court actions and judgements decrease […]
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 fundamentals are clear. Small business in Australia needs finance to grow and capture market opportunities. However, there are over 2.1 million small businesses in Australia with a potential $10 billion per annum growth-funding requirement, not being fulfilled by banks. Banks consider many SME borrowers a bankable risk but they generally lend based on real […]
The federal government has recently introduced a “new” hotline for anyone to report businesses that they believe are undertaking phoenix activity. This comes as a 2018 report from PricewaterhouseCoopers, funded by the government, revealed that the estimated annual cost of phoenix activity was now $5.13 billion dollars. In 2012, the annual cost was between $1.8 […]