Coinciding with the anticipated release of the Small Business Ombudsman’s report on its inquiry into payment times and practices, American Express has released research showing mid-sized Australian businesses owe $8 billion in outstanding payments to suppliers, with more than $2 billion currently overdue. According to Martin Seward, VP, Small & Medium Enterprises at American Express Australia, […]
The numbers are in and the news isn’t great for Australian small business owners. Research undertaken for the latest Scottish Pacific SME Growth Index * shows more than half of SMBs cite cash flow as a major barrier to growth (56%). Less than one in ten are content with their cash flow and around three-quarters of growing […]
A small business is more than a bottom line for an owner; it is often their heart, soul and passion. By taking the plunge and setting up and running a small business, all your time and energy becomes focused on making your life’s dream a success. However, with all of your energy invested in your […]
Organisations planning to streamline workflows by using a digital document management system need to ensure staff are consulted throughout the deployment process. Regular communication about the new technology and its impact on jobs will ensure staff embrace rather than resist the changes. Staff consultation Digital document management systems sit at the heart of an organisation’s workflows. […]
Cashflow is the lifeblood of any business and more SMBs have been destroyed through cashflow issues than from any other cause. The last thing you need is to be stressing about whether you have enough cash to pay your own suppliers when you should be running your business. So, you’re not ready to hire an […]
Visibility into working capital is essential to manage cash flow and ensure a business can remain sustainable, yet research shows that companies frequently miss quarterly working capital forecasts by up to 23%.[1] Organisations must address this inaccuracy as a matter of urgency, as working capital is a measure of the operating liquidity of an organisation […]
There are many options out there for sole traders and SMEs when it comes to managing business invoicing and accounting. The first solutions people tend to turn to are the reliable classics: Word and Excel. While these offer some snazzy invoice templates, they may be a bit harder and more time consuming to work with […]
Partnering with the right suppliers will give you a head start in running an efficient ecommerce business, potentially saving you thousands of dollars each year. [Editor’s note: This article is the second article in a seven-part series by Chris Dahl of Pin Payments, providing an essential guide to setting up an ecommerce business. Read part one: Ecommerce Success […]
The UK’s decision to exit the European Union is causing market instability and while much of the focus has been on the valuation of ASX200 companies, SMEs are on the frontline during this volatile period. SMEs are considerably more likely to have direct exposure to lending conditions, greater dependency on a handful of key clients and, given their smaller size, […]
If you’ve effectively taught a client that they have 60 to 90 days in which to pay you, it is then very difficult to get them to start paying on time. To avoid this, make sure you and your client both agree to the credit terms when you set a new account up. This may […]
