Small business owners are each a jack of all trades – they’re CEOs, marketers, sales guns and customer service gurus all rolled into one (somewhat tightly wound) package. With their fingers in so many pies, the challenge becomes keeping on top of the new stuff – the emerging trends and technologies. With that in mind it’s no surprise […]
As Australia transitions to being a cashless country, retailers are being urged to stay ahead of the curve and embrace new payment innovations. Those who don’t futureproof their businesses, but instead restrict the ability of consumers to make electronic payments, are not only missing out on sizeable business but risk becoming obsolete. Garry Duursma, Head, Market Development […]
According to national SME finance specialist, Scottish Pacific, many small businesses may be using the Australian Tax Office (ATO) as a line of credit being unaware of alternative funding solutions. Scottish Pacific CEO, Peter Langham said the ATO was owed $35.3 billion in 2013-14 according to a recent report by the Inspector-General of Taxation. “It […]
No matter the size of your business, if you’re offering credit to your customers it’s highly likely at some point you will do work for a customer who will blatantly refuse to pay.
The Reserve Bank of Australia (RBA) has left the cash rate unchanged at 2.25 per cent, while suggesting “further easing of policy” may be needed in the coming months.
Your organisation may be making sales left and right, but if you’re not collecting funds from these transactions, you may find yourself with insufficient cash during critical periods.
You can be swayed thinking that your new customer is going to be one of your best – so, really, is there that much risk in providing them some credit? You have crosschecked the credit application against an ASIC search and there are no discrepancies – so what could go wrong?
Attorney General, Senator George Brandis has requested the Credit Reporting Privacy Code be changed so the current five-day grace period for late payments be extended to 14 days.
A report by the Australian Retail Credit Association (ARCA) has found that Australians are largely positive about the new credit reporting system set to be introduced next month.
Not paying ATO debts is a dangerous game. The reason being, the ATO have powers far greater than other business creditors.
