Advice
Amy McWaters is the COO of The Hamper Emporium and is responsible for the day-to-day operations and logistics of the company, while ensuring customer satisfaction. On top of that, she is also the COO of SOL Group Australia, Australia’s leading online gifting company. Amy draws on her expertise and experience to share her insights for scaling […]
Former HR Manager, James Trenerry turned a $40,000 debt into a successful KX Pilates franchise enterprise, generating a revenue stream of $2.5 million. Here are his tips for business success. Define your vision A clear vision and strategy is essential to reach your goal This sets the tone for your business direction, objectives, and […]
The challenge of securing bank finance is seeing a growing number of small and medium enterprises (SMEs) turn to online lenders. One in four SMEs have been knocked back for bank finance Among SMEs rejected by a bank, one in three have turned to family/friends or a credit card for funding Of those SMEs that […]
The accounting app Xero share their Small Business Insights with us to shed light on what small businesses should be aware of, which is now made especially relevant with the federal budget announcement later today. The anonymous and aggregated data is collected monthly from hundreds of thousands of Xero’s Australian subscribers through the Xero platform. […]
Australians have long been considered a traditional group and for good reason. Neighbours recently entered its 35th TV season and the Tim Tam is still the nation’s favourite biscuit. But in the retail sector this love affair with tradition is no more, replaced by a thirst for new and innovative experiences. Recent 451 Research, commissioned by […]
LVLY is an Australian start up that has become the Uber of gift giving since it was founded by Hannah Spilva and Verity Tuck only 4 years ago. In 2015, Hannah and Verity saw a gap in the market when they themselves found that they weren’t easily and conveniently able to send gifts quickly to […]
Given the prevalence of high-profile company data breaches that we are seeing today, including the recent incidents at Kathmandu and Landmark White, Charles Heunemann (Managing Director and VP Asia Pacific at Natterbox Limited) discusses the negative consequences that data breaches can bring to businesses. “We live in an age of cyberthreats, causing companies to implement […]
Top tips to turn your business into a franchise.
Do you know how much time and money you are spending on business travel? For many businesses the answer is no, and they’re missing out on valuable savings. This is where SMART Corporate Travel can help. Designed specifically for Australian SMEs, this new online travel platform drives significant savings and efficiencies. Below are five of the […]
Desire for speed and convenience compromising our customers’ needs.
In a perfect world, suppliers would prefer to be paid cash up front. However, in reality, the world works on credit. Trade credit is inevitable and so is the debt that comes with it. For most businesses, trade credit is essential for growth as businesses don’t have to pay suppliers on the spot but rather with […]
Due to the ‘gigantic profits’ banks derive from processing the ‘lion’s share’ of home loans in Australia, traditional lenders haven’t had a compelling case for servicing small businesses – rejecting around 50% of their loan requests, according to Simon Isaacs, founder and CEO of fintech startup ebroker. “Banks can lend $62.50 for every dollar* of their […]
Many SMB owners think that that debt management is frustrating, repetitive and even awkward, but it doesn’t have to be. When approached with professionalism and a clear plan of attack, the right debt strategy could save weeks’ worth of work per year, while also doubling or tripling working capital. So, why isn’t everyone doing a […]
Are you struggling to make ends meet? Do some customers take liberties and pay you weeks or months after you finish the work? Do you have a large outstanding debtor balance that just doesn’t seem to reduce? If you answer ‘yes’ to any of these questions then more often than not the answer to your […]
Cashflow is the lifeblood of any business and more SMBs have been destroyed through cashflow issues than from any other cause. The last thing you need is to be stressing about whether you have enough cash to pay your own suppliers when you should be running your business. So, you’re not ready to hire an […]
During the ‘silly season’ it can be easy for expenses to get out of control. Employees are starting to relax and may feel comfortable claiming team lunches or other entertainment expenses back from the business. At the same time, Christmas is a time for giving; many organisations buy gifts at the end of the year […]
Australia’s mid-size businesses are missing out on $6.12 billion in growth opportunities annually due insufficient or variable cash flow, according to new research from American Express. The company’s new report, Behind the balance sheet: unlocking hidden value in credit, involved a survey of 355 Chief Financial Officers from companies with annual revenue values between $2 […]
Visibility into working capital is essential to manage cash flow and ensure a business can remain sustainable, yet research shows that companies frequently miss quarterly working capital forecasts by up to 23%.[1] Organisations must address this inaccuracy as a matter of urgency, as working capital is a measure of the operating liquidity of an organisation […]
With the emergence of a range of new funding sources for small and medium sized businesses, it’s crucial to understand what your company’s debt funding options are and the most competitive interest rate you will be able to obtain. The following sets out the broad categories of the different funding options for businesses and the […]
While it’s a vital part of good cashflow management, chasing late payments is not something that most business owners enjoy. What can you do to get your clients to pay on time? And what can you do when you’re stuck with a customer who won’t settle their debt? Prevention is cure The first way to […]
