Tag: Debt

This week’s Tech Tuesday highlights the top five niche tools to help SMEs tackle debt management and financial recovery.

The single most important takeaway for small business owners grappling with debt is this: early intervention is your strongest tool.

A new report from CreditorWatch paints a grim picture, with record-breaking insolvencies, skyrocketing payment defaults, and entire industries on life support.

Managing cash flow remains one of the most stressful parts of running a business in today’s market conditions, according to Australian small business owners.

Turns out around 73 per cent of Australians – or 14.6 million people – aren’t aware of their credit score and what it entails.

For businesses wondering what their futures look like a Small Business Restructure could help tidy up old debts. 

In an Australian fin-tech first, a Melbourne based company has developed an app that allows users to negotiate their debt with creditors from a single platform. The app, called Lever, streamlines the negotiation process, giving users greater control of their credit.   Debt negotiations  According to ABS data, Australians’ financial stress has increased over the past […]

New research indicates that the Government might face a wave of ‘tax debtors’ within the Australian business community when the stimulus and wage subsidies end in September. This is because, even before the nationwide shutdown – when the economy was fairly healthy – 25 per cent of businesses could not find the cash to pay […]

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 […]

Small businesses are pleading to be paid on time, with Ombudsman Kate Carnell urging big businesses not to use the COVID-19 economic downturn as an excuse not to pay up. The reports of big businesses using COVID-19 as an excuse to delay payments to their small business suppliers is disappointing. “Now is the time for […]