Tag: Debt

Managing cash flow remains one of the most stressful parts of running a business in today’s market conditions, according to Australian small business owners.

Turns out around 73 per cent of Australians – or 14.6 million people – aren’t aware of their credit score and what it entails.

For businesses wondering what their futures look like a Small Business Restructure could help tidy up old debts. 

In an Australian fin-tech first, a Melbourne based company has developed an app that allows users to negotiate their debt with creditors from a single platform. The app, called Lever, streamlines the negotiation process, giving users greater control of their credit.   Debt negotiations  According to ABS data, Australians’ financial stress has increased over the past […]

New research indicates that the Government might face a wave of ‘tax debtors’ within the Australian business community when the stimulus and wage subsidies end in September. This is because, even before the nationwide shutdown – when the economy was fairly healthy – 25 per cent of businesses could not find the cash to pay […]

As a small business owner, you could be wondering if during the chaotic times of COVID-19, is it still possible to sue a customer for an unpaid account/debt?  In the first instance, you should try as hard as you can to recover funds you’re owed through processes such as payment plans if a customer simply […]

Small businesses are pleading to be paid on time, with Ombudsman Kate Carnell urging big businesses not to use the COVID-19 economic downturn as an excuse not to pay up. The reports of big businesses using COVID-19 as an excuse to delay payments to their small business suppliers is disappointing. “Now is the time for […]

Have you ever struggled with cash flow as a result of late payments to your small business? We know this is an ongoing issue for small business owners, and so in today’s podcast that’s really what we are focussed on. We are going through the top tips to achieve a healthy cash flow and healthy […]

Prushka Fast Debt Recovery has revealed, through data sourced from court records, that 953 businesses issued Notices of Winding Up Application during the Oct-Dec quarter. This figure increased 5 per cent compared to the July quarter, and by 6 per cent year-on-year. The Australian Taxation Office continues to be the largest petitioner, with ATO and other […]

Only a few big businesses, such as Telstra and Rio Tinto, have done ‘the right thing’ according to Australian Small Business Ombudsman Kate Carnell, in terms of addressing late payments. Late payments is a huge problem for the Australian small business community, with a Xero report last June (2019) citing a loss of $7 billion per […]