Tag: Debt

SMEs often aren’t fussy enough about who they deal with in their eagerness to close a sale. But if that customer never pays up, it will end up doing you more harm than good.

I used to have the cleanest office in the world when I had a horrible or uncomfortable task to do. It was always easier to scrub the floors than it was to address a problem, or an elephant, in my business. However, by allowing our businesses to work around a big elephant in the room we are losing money.

2011 has begun with the same uncertainty we saw in the last quarter of 2010. Market reports on business performance continue to contradict each other, the economy persists to operate at two distinct speeds and consumer spending remains tepid.

There are many ways for you to improve your cashflow simply by altering your business processes and taking advantage of things such as interest-free days on credit cards where possible.

Christmas is a hectic time for small business owners – with scammers looking to take advantage of tired and stressed people during the festive season.

The Better Regulation Office and the Department of Justice and Attorney General are undertaking a joint review of the debt recovery process in New South Wales and need to hear from NSW businesses.

Small businesses are urged to start preparing for the Christmas shutdown period now to avoid traditional post-Christmas cash flow shortages that are often to blame for a spike in insolvencies in February.

CreditorWatch is a new service that lets small business expose clients who have not paid invoices on time and monitor current and potential clients credit ratings to avoid bad debt.

The majority of Australia’s SMBs are still suffering from the effects of the GFC, with client payments taking longer to be received, according to a new survey.

Veda Advantage’s Business Credit Demand Index, shows many small-to-medium sized businesses have been reluctant to take on credit throughout 2010, with demand falling 5.6 percent in the April to June period over the same quarter in 2009.