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, […]
Last week, the Australian Small Business and Family Enterprise Ombudsman released the findings of the Inquiry into Payment Times and Practices in Australia. The results were startling but, for many small businesses across Australia, they were not surprising. The inquiry revealed almost half of small business are owed more than $20,000 from late payments, and […]
Building and growing a business requires a lot of effort + a little luck + investment capital. Effort is hard work over a period of time and luck is often a by-product of effort. This leave’s investment capital: deciding how to raise investment capital is not an easy decision. There is no one-size-fits-all approach to […]
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 […]
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 […]
What you may not know, however, is that the revised guidelines issued in 2014 by ASIC and the ACCC stress the importance of good record keeping. Here’s how…
The Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC) have released a guide to help customers deal with debt collectors and creditors.
Bad debts can be bad news for small business. Chris Ridd, managing director of small business accounting software provider Xero Australia, explains how you can deduct them from your tax – and how you can avoid them.
Cashflow has once again rated as the chief concern for SMEs in a new report released today.
Not paying ATO debts is a dangerous game. The reason being, the ATO have powers far greater than other business creditors.
