Roger Mendelson
Settling into FY21 – here are some tactics to boost cash flow
With the new financial year craziness wearing off and we settle into our new normal, now is a good time to rethink your strategies. For this year in particular, it is essential that you do this. It is essential that small businesses are on the ball in thinking creatively. Here are some simple tips to […]
How SME owners can ride out the COVID-19 recession
Australian SME owners are bracing for an imminent recession, inflicted by the global coronavirus pandemic. Our recent survey of SMEs revealed that, in response to the virus, 66 per cent are concerned that we will experience a recession in Australia, and 62 per cent believe the severity of this will be the worst downturn Australia […]
What can you do to legally recover your debts?
As a small business owner, you could be wondering if during the chaotic times of COVID-19, is it still possible to sue a customer for an unpaid account/debt? In the first instance, you should try as hard as you can to recover funds you’re owed through processes such as payment plans if a customer simply […]
Stimulus package reaction: “There are bigger concerns not addressed”
The Morrison government’s economic plans to mitigate coronavirus challenges is a timely, sensible and proportionate response, however there are bigger concerns not addressed. Through constant communication with our client base of over 58,000 Australian SMEs, we have seen that almost every business is severely impacted by the unfolding COVID-19 recession. The stimulus packages and plans, […]
How to know if your customers will actually pay you
Many small businesses take on jobs and incur costs in buying materials, even carry out work well before they get paid for the job. In an ideal world, your business would obtain payment upfront from the customer to cover significant job costs. However, a lot of the time this isn’t possible, particularly if your customer […]
Don’t accept late payments, just because you’re a small business
Any small business owner will know the struggle of time – being short on time, and not getting paid on time. It’s often easy to forget the importance of back office functions, particularly invoicing and debt collection processes. Luckily, if you take the time to streamline these processes, the amount of time wasted chasing late […]
Business trading terms you might not know about
Proper trading terms establish a concrete foundation for your business, clearly defining your legal rights and relationship with our customer from the beginning. We’ve all signed onto an online platform by acknowledging terms and conditions, however once read carefully, you would be amazed at what you’ve actually agreed to. Chances are that your own business […]
SME cash flow risk can be avoided with proactive credit monitoring – here’s how
It won’t come as a surprise to hear that inadequate cash flow is one of the main reasons why many small businesses in Australia fail, so for small businesses looking to get ahead, minimising the risk of bad debt should always be front of mind. With over 97 per cent of the 2.2 million actively […]
Simple steps to tackle your (fast approaching) tax
Planning begins now for EOFY.
Proposed tax debt disclosure laws ‘unlikely to help SMEs’, says debt collection agency’s CEO
Much has been said about the benefits SMEs will see from new draft legislation recently proposed by the Federal Minister for Revenue and Financial Services authorising the Australian Taxation Office to disclose business tax debts to credit reporting bureaus. While the stated aim is to “help the SME sector”, in reality SMEs will be largely […]
Brace for a potential business downturn now because WHEN (not if) one hits, it’ll be too late
Would your business survive if a recession hit? While I don’t believe Australia is facing an impending recession in the immediate future, it’s not a question of “if” but “when” and there’s no better time to start planning than right now. Small business owners are often too busy to think about contingency planning, but to […]
Simple ways to improve cash flow this EOFY
With the end of the financial year almost upon us, now is the time to make the most of your tax planning. If you are like most business owners, chances are you are putting off thinking about your tax until after 30 June. However, you MUST act now. If you wait until after 30 June, […]
‘Act like a large company’ and other tips to help SMEs avoid the sting of late payments
Last week, the Australian Small Business and Family Enterprise Ombudsman released the findings of the Inquiry into Payment Times and Practices in Australia. The results were startling but, for many small businesses across Australia, they were not surprising. The inquiry revealed almost half of small business are owed more than $20,000 from late payments, and […]