The mantra of many successful entrepreneurs is the idea that you must spend money to make money. It is also one of the biggest reasons that some people fail to act on their business aspirations, because they believe that they don’t have the money required to take their business to the next level. I believe […]
Nearly one in two Australian businesses are leaving themselves vulnerable to bad debt by not performing credit checks on their existing customers, new research shows. In a survey conducted by Australian credit bureau CreditorWatch, business owners, accountants and credit professionals from small to large-scale businesses were asked questions in relation to their credit management responsibilities. […]
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 […]
When it comes to acquiring finance for your business either to get started or expand, traditionally banks have been the popular option; however, with more than half of SME loan applications being rejected by banks every year, banks are proving to be yet another hurdle for small businesses. Whether it is to fund start-up costs, […]
The vast majority of small business owners in Australia are navigating tough conditions with little or no support. While they know their business better than anyone, often they fail to tend to certain nagging issues because, well, they’re too busy; instead, they choose to reassure themselves their business model is strong and push on. If you are one of […]
New card payment regulations, which commence mid-year, could impact how SMEs conduct business but a majority have a limited understanding of the changes, American Express has warned. Card payment regulations announced by the Reserve Bank of Australia last year are due to come into force from July and will cap the fee that Visa, MasterCard and bank-issued American Express […]
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 […]
Small businesses often have specific financing needs and may require funding support to compete in international markets or to fulfil export-related supply chain contracts. For businesses trying to navigate that next growth phase into an overseas market, there are a number of differences between exporting and operating in Australia which will have an impact on […]
Too many Australian businesses are jumping into exporting without fully understanding and researching the risks involved, resulting in business losses and unnecessary expenses. There are a lot of country-specific details that businesses should be aware of before they consider exporting. For example, Turkey, Brazil, Indonesia, and India are currently viewed as high-risk areas because of […]
