Cashflow is currently the biggest challenge facing small business, recent research has shown, with delinquent accounts – where payments were over 90 days late – increasing by 20 percent in the March quarter.
While the end of the financial year can sometimes be a rushed haze of numbers, money, stock and papers, I think it’s important to take some time to reflect on the year that has just passed.
Debtor finance has been rated as one of the top three products to watch in 2011 and statistics are reinforcing its growing popularity among Australian SMEs as a cashflow saviour.
Businesses recovering from floods in Queensland and Victoria need to beware of the risks of growing too fast, according to Michael Fingland, managing director of business turnaround specialist Vantage Performance.
So what strategies can you implement now to help the business in the future? How do you improve your position now?
Veda Advantage’s Business Credit Demand Index, released today, shows demand for business credit among small business is down 7.3 percent in the December quarter over 2009.
If there’s one thing that doesn’t change for small business year to year, it’s the importance of good cashflow management.
Feeling uneasy about where your business is at financially as the New Year approaches? It’s that time of year again: the last 12 months of dodgy financial decisions come to a head as the Christmas bills start to roll in and the January expenses make their mark on the horizon.
Dreamy Donuts is cashing in on the closure of 21 Krispy Kreme stores, with the franchise brand celebrating its fifth birthday by accepting Krispy Kreme vouchers at all of its stores in Australia and New Zealand.
As a small business owner you would understand the accumulative effect of every dollar. If your business were to save $5 each working day (assuming you work 250 days a year), it will have saved $1,250 – enough for a new laptop.
