#Debtors
Could your business use a financial detox?
Regardless of the successes your business achieved in 2016, a ‘financial detox’ is an invaluable opportunity to take things to the next level this year. Like a personal detox, a business cleanse is focused on boosting energy levels and performance. Specifically, it’s all about understanding your financial vulnerabilities and cash flow pressures and creating a foundation to fund […]
Late payments impacting 3 in 4 small businesses
New research by MYOB highlighting the financial and emotional toll late customer payments are having on SME owners has prompted the cloud accounting provider to renew calls for federal government and big business to implement a solution. The company’s latest SME Snapshot, revealed 77% of business owners had been impacted by late payments. Notably, 35% […]
Tips for businesses to prepare for the EOFY
June 30 always seems to sneak up on us doesn’t it? There’s a lot involved in preparing your business documentation for the end of financial year. If you are a small business, it is highly likely that you need to do everything to manage your business, from administration, marketing to bookkeeping. Business is running well […]
6 Things every start-up needs to know about running a business
Behind every start up is an aspiration to do something different. The attraction to do something different attracts fellow travellers all keen to be different and break with the boring services, products and maybe procedures of more established companies. This can be a trap for young players. Behind every successful and exciting company is a […]
How to handle nightmare debtors
Debtors can suck the cash out of your business and leaving you struggling to pay your bills.
How do you manage creditors and debtors?
Dynamic Business, as the voice of Australia’s small businesses, is again conducting its Credit and Debt Survey in partnership with CreditorWatch. Every person who completes the survey will go in the running to win one of three annual CreditorWatch subscriptions, valued at over $200.
Credit claims spike, according to new report
More SMBs are looking to secure their cashflow and funding thanks to the tightening credit market, with a report finding a staggering surge in credit insurance claims during May.
Tips for negotiating appropriate customer credit terms
Customer credit terms are a negotiation not to be to be taken lightly, and a selective procedure is vital for business protection, success and longevity.
Are you prepared for the new Personal Property Securities Register?
The Personal Property Securities Regsiter (PPSR) comes into being today, promising to bring major change to existing business practices. Here’s what you need to do to be ready to take advantage of the new PPR Register.
5 tips to avoid holiday cashflow woes
Cash is like oxygen for small business owners, and keeping a close eye on cashflow is important—especially during the holiday period when it can be hard to contact your debtors.
SMBs battle late customer payments, excuses
Close to 50 percent of small business decision makers have dealt with overdue customer payments in the last year, with the majority reporting a rise in customer excuses for slow payments.
Cash is king: payment options to bring cash into your business faster
Cashflow remains a key priority for small businesses, with Dun & Bradstreet’s latest trade payment survey showing payment terms have reached three-year highs, with the average time it takes a debtor to pay a bill jumping more than five days in the first quarter of 2011. With cashflow back on the agenda, there’s evidence more businesses are reviewing their payment options to bring cash into the business faster.
How to invoice and collect money like a badass business
Getting cash into your business is a two-step process that may seem easy, but actually determines whether you have a business or not.
Businesses warned following bad debt spike
Figures recently released by National Credit Insurance (Brokers) showed that the number of bad debt claims in February 2011 is almost 80% higher than claims for the previous month. The spike has caused cash flow finance specialist Oxford Funding to warn businesses to keep an eye on their debtors.
Ten tips to improve small business credit practices
Small businesses are often burned by bad debtors because they haven’t put in place solid workable credit practices to evaluate those they do business with. We asked Veda Advantage to provide ten top tips to help small businesses adopt and implement best practice credit practices.
Planning for the financial year
The start of a new financial year is always a good time to look at financial plans and activities that will help grow your business over the next 12 months. Planning the financial year is even more important now, as businesses deal with economic challenges, high interest rates, and low consumer confidence. Commentators and economists have varying […]