Remember, you may be invoicing business to business, but there are real people at the other end of the process and their emotions can and will affect how quickly you get paid.
Dan Price has decided to take a huge pay cut in order to remove what he calls the “distractions” his employees were experiencing with financial difficulties.
Are small businesses guilty of paying other small businesses late? Are the people whinging also the source of the problem? Could it be that we are hypocrites?
Your organisation may be making sales left and right, but if you’re not collecting funds from these transactions, you may find yourself with insufficient cash during critical periods.
Over two million Australian small businesses are positioned to benefit from growing global trade with online sales to foreign buyers forecast to triple to $16.1bn by 2018.
It’s hard to keep track of how Aussie consumers want to pay – a new report shows we’re utilising more payment methods than ever before.
Don’t look now, but the ‘subscription economy’ is arriving at a business near you.
Business-to-business lending rates have declined as creditors get strict about payment terms, according to trade credit analysis conducted by Dun & Bradstreet. It revealed that during the GFC many organisations relied on extended credit terms from suppliers to stay in business but these terms have since retracted.
EFTPOS transactions continue to surge in Australia, with one billion transactions processed in the six months to the 31st of December 2010.
Harold Dimpel is a serial entrepreneur with a passion for technology and communication. His latest venture, mHITs, is the next big thing in mobile payments.
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