Late payments can be crippling businesses, particularly those operating on tight margins, such as SMEs. This pressure intensifies during the summer holiday season, a period that traditionally sees an increase in late payments and payment defaults as many businesses shut down for the period with unpaid invoices.
Dec 08, 2023
A successful strike-off action indicates that the Australian Securities and Investments Commission (ASIC) has taken the necessary steps to deregister a company formally. This implies that the business name has been struck from the Australian Business Registry (ABR) and all associated parties, be they employees or creditors, have been notified of the winding up of the company.
Nov 17, 2023
The October 2023 CreditorWatch Business Risk Index (BRI) has revealed that Australian business activity is now at disturbingly low levels with the average value of invoices at their lowest point since CreditorWatch began recording this metric in January 2015.
Nov 15, 2023
Significant changes to the unfair contracts regime come into law today, with new multi-million penalties for companies and individuals forcing trading partners to sign contracts that are deemed unfair. Are your contracts fair and equitable?
Nov 09, 2023 The September 2023 CreditorWatch Business Risk Index (BRI) has revealed that the contraction of Australian business activity may have eased but it remains at a low ebb, with the average value of B2B invoices down 42% year-on-year and well below pre-COVID levels.
Oct 18, 2023 The August 2023 CreditorWatch Business Risk Index (BRI) has revealed Australian businesses activity is at near-record lows with the average value of B2B invoices now down 36% year-on-year - its lowest point since January 2017.
Sep 13, 2023 The July 2023 CreditorWatch Business Risk Index (BRI) has revealed the average value of business invoices has fallen by almost a third over the past 12 months, with a drop of 28% year-on-year.
Aug 23, 2023
The June 2023 CreditorWatch Business Risk Index (BRI) show business payment defaults surge 52%; On the upside, Western Brisbane the most-improved region in Australia.
Jul 12, 2023
CreditorWatch Chief Economist Anneke Thompson and Head of Content Michael Pollack unpack the CreditorWatch May 2023 Business Risk Index results.
Jun 22, 2023 The May 2023 CreditorWatch Business Risk Index (BRI) show Australian businesses are coming under increasing pressure.
Jun 20, 2023
The ‘unfair contract terms’ laws (as set out in the Australian Consumer Law (ACL) establish out a regime whereby a term in a consumer or small business contract will be void if the term is unfair and the contract is a standard form contract.Australia’s Unfair Contract Terms regime (UCT) has now been significantly expanded in respect of ‘small businesses’. The changes were passed by Parliament on 28 October 2022 and will come into effect on 9 November 2023.
Jun 16, 2023 CreditorWatch Chief Economist, Anneke Thompson, and Director of Open Analytics, James O'Donnell, discuss the latest CreditorWatch data insights on Australian businesses and the outlook for the remainder of 2023. Hosted by Michael Pollack, Head of Content at CreditorWatch.
Jun 01, 2023
In today’s job market, building a strong network and finding a great mentor are critical to achieving your goals. This is especially true now that the job market is more competitive than ever before, with hundreds of qualified candidates vying for the same positions.
May 24, 2023 The April 2023 CreditorWatch Business Risk Index (BRI) has revealed that the average value of invoices (trade receivables) remained elevated in April despite other leading indicators showing that businesses are coming under increased pressure.
May 17, 2023
This month’s data revealed the strongest bounce back in trade receivables data on record. This is an 86% increase on the previous month’s trade receivables data, but still 5.6% below trade receivables recorded in March 2021 and March 2020.
Apr 20, 2023 The March 2023 CreditorWatch Business Risk Index (BRI) has revealed, on multiple indicators, that business activity has returned to pre-COVID levels despite continued high inflation and interest rates.
Apr 18, 2023 The February 2023 CreditorWatch Business Risk Index (BRI) shows that business conditions, particularly around payment times have tightened due to high inflation and interest rates, in combination with falling demand.
Mar 15, 2023 The January 2023 CreditorWatch Business Risk Index (BRI) reveals that business conditions are turning for Australian businesses, with a number of key metrics continuing to decline after a subdued end to 2022 as the RBA continued to tighten the screws on interest rates.
Feb 16, 2023
Whether you’re seeking a long-term business loan or a small loan to start a business, having a less-than-stellar company credit history can feel like a life sentence. However, there are options available to business owners that could be worth considering, to improve the likelihood of approval for a loan or line of credit and improve your business credit score.
Feb 02, 2023
The November 2022 CreditorWatch Business Risk Index (BRI) reveals that the usual trade momentum going into December has failed to materialise and businesses should brace for a more subdued Christmas trading period.
Dec 15, 2022
Enterprises within the hiring and rental business historically operate on a critical foundation of trust. Understandably so, as the value and volume of goods loaned are often significant. The lease holder’s integrity is fundamental to the safe return of goods and the payment for any services rendered.
Oct 24, 2022
Spanning a broad cross section of Australian businesses, from art galleries to theatres, gyms to sport and recreation clubs - the arts and recreation services industry is a fickle beast.
Aug 17, 2022
Looking at the past can help you determine trends of the future – but sometimes the past can come back to bite you. A company’s credit history can make or break its ability to secure credit and conduct business.
Jul 29, 2022
CreditorWatch has been awarded the ISO 27001 and 27017 certifications, for information security management and cloud security controls respectively. These globally recognised accreditations prove that CreditorWatch has achieved the highest standards of information security management.
Jul 01, 2022
For the vast majority of business owners, debt collection is not something you want to spend too much time dealing with. Whether you’re in it, chasing it, or just trying to stay one step ahead of it, you probably feel that the hours grappling with outstanding payments could be better spent working on your business.
Jun 30, 2022
Economy at turning point as positive trends continue; Grim outlook for flood-affected regions In our latest episode, we present the January Business Risk Index results and analysis. CreditorWatch CEO Patrick Coghlan…
May 11, 2022
In our latest episode, we present the January Business Risk Index results and analysis. CreditorWatch CEO Patrick Coghlan and index creator James O'Donnell from Open Analytics discuss the key insights.…
Apr 13, 2022
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Late payments can be crippling businesses, particularly those operating on tight margins, such as SMEs. This pressure intensifies during the summer holiday season, a period that traditionally sees an increase in late payments and payment defaults as many businesses shut down for the period with unpaid invoices.
Dec 08, 2023
Borrowers today breathed a sigh of relief as the Reserve Bank of Australia (RBA) today chose to keep the cash rate steady at 4.35 per cent in its final meeting until February. Stagnating retail sales, slowing inflation and a rising number of unemployed job hunters all combined to convince the RBA that current monetary policy settings are sufficient to slow the economy.
Dec 05, 2023
Consumer confidence plummeted again in October, following the announcement of a further increase to the cash rate following the Melbourne Cup Reserve Bank board meeting. Just two months ago, consumers, and most economists were reasonably confident we’d reached the end of the monetary policy tightening cycle.
Dec 01, 2023
Today’s monthly CPI data showed positive signs that monetary policy is taming the inflation beast. Excluding volatile items (fruit and vegetables and fuel), monthly CPI reduced to 5.1 per cent, down from 5.5 per cent the previous two months.
Nov 29, 2023
Retail sales fell an overall 0.2 per cent over the month of October, after recording rises in spending in both preceding months. For discretionary goods categories, this is to be expected, as many consumers will have chosen to hold off on spending for Black Friday sales, which are currently in progress.
Nov 28, 2023
A strong credit profile is one of the cornerstones of a successful business. As with an individual credit score, having an excellent business credit profile will mean the business is more likely to gain approval for financing, such as a line of credit or business loan, or more favourable terms with suppliers.
Nov 24, 2023
A successful strike-off action indicates that the Australian Securities and Investments Commission (ASIC) has taken the necessary steps to deregister a company formally. This implies that the business name has been struck from the Australian Business Registry (ABR) and all associated parties, be they employees or creditors, have been notified of the winding up of the company.
Nov 17, 2023
Despite a solid increase in the number of employed people over the month of October, the unemployment rate still ticked up from 3.6 per cent to 3.7 per cent given the increase in unemployed people.
Nov 16, 2023 The October 2023 CreditorWatch Business Risk Index (BRI) has revealed that Australian business activity is now at disturbingly low levels with the average value of invoices at their lowest point since CreditorWatch began recording this metric in January 2015.
Nov 15, 2023 Both Business Sentiment and Consumer Confidence measures taken by NAB and Westpac respectively showed increasing pessimism among both groups. Business confidence declined, while conditions improved slightly, which suggests that even though businesses might be doing okay for now, there is an expectation that these reasonable conditions won’t last.
Nov 14, 2023 Significant changes to the unfair contracts regime come into law today, with new multi-million penalties for companies and individuals forcing trading partners to sign contracts that are deemed unfair. Are your contracts fair and equitable?
Nov 09, 2023
Off-the-shelf accounting software has revolutionised the ease with which small businesses can manage their finances. From tracking your finances and making reconciliation smoother to accounts payable and staff payroll, ERPs (enterprise resource planning) and accounting software like Xero, MYOB and QuickBooks makes doing business easier than before.
Oct 31, 2023
Today’s retail trade data revealed a slight increase in the rate of spending in September 2023, partly driven by the release of the new iPhone and a warm start to spring, which boosted spending on hardware, gardening supplies and clothing.
Oct 30, 2023
In good news for the economy, September quarter inflation data released today by the ABS shows that services inflation has moderated since June 2023. While still high, at 5.8%, it is down from the June 2023 peak of 6.3% and is also the first decrease in the rate of services inflation since December 2021.
Oct 25, 2023
Of course it’s important to gather the right information when onboarding a new customer. Without it, you might not be able to set them up properly in your customer relationship management (CRM) system.
Oct 19, 2023 The September 2023 CreditorWatch Business Risk Index (BRI) has revealed that the contraction of Australian business activity may have eased but it remains at a low ebb, with the average value of B2B invoices down 42% year-on-year and well below pre-COVID levels.
Oct 18, 2023
In the complex landscape of tax obligations, the Australian Taxation Office (ATO) aims to employ a strategic approach to debt management, carefully crafted to cater to the diverse needs of businesses while maintaining fairness and equity.
Oct 11, 2023
The RBA has maintained the cash rate at 4.10% at the October 2023 meeting. Continuing weak retail trade and consumer confidence data is giving the board the clear sign that their efforts to reduce demand in the economy have worked very well.
Oct 03, 2023 September saw the continuance of fuel inflation, with petrol and diesel prices rising substantially due to reduced production by key oil states like Saudi Arabia. The increase in fuel prices, alongside continued price gains in insurance and residential rents, resulted in a small increase in monthly inflation.
Sep 29, 2023 Retail Trade continues to grow very modestly, with a 0.2% seasonally adjusted monthly increase recorded over August. This equates to an increase in spending of 1.5% over the year, and is well below inflation rates.
Sep 28, 2023
The PPSR, the government Personal Properties Securities Register, is akin to home and contents insurance. It should be quick to set up and, once done, will protect you in case of an adverse event (for example insolvency).
Sep 21, 2023
While the August 2023 unemployment rate remained steady at 3.7% on a seasonally adjusted basis, there was a strong gain in employed people overall, at 64,900, or a 0.5 percentage point increase. The very minor increase in the participation rate from 66.9% to 67.0% was the reason this jobs growth wasn’t enough to lower the unemployment rate again.
Sep 14, 2023 The August 2023 CreditorWatch Business Risk Index (BRI) has revealed Australian businesses activity is at near-record lows with the average value of B2B invoices now down 36% year-on-year - its lowest point since January 2017.
Sep 13, 2023