Cashflow
Two in five SME owners either operate multiple businesses or plan to, according to new research from MYOB with Tim Reed, the cloud accounting provider’s CEO, declaring “the great Australian entrepreneurial spirit is alive and well.” Findings from MYOB’s latest SME Snapshot – a survey of 589 business owners – indicate that a quarter of […]
New research suggests transactions between small businesses in Australia are worth $204 billion per year. Commissioned by American Express in support of Shop Small Month, which ends 30 November, The Economy of Shopping Small: Custom Counts report reveals small businesses in Australia source goods and services from 4.4 other small suppliers each month, with an average monthly spend […]
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% […]
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 […]
New contactless payment technology, which launches in Australia today, enables small businesses to quickly and securely accept tap-and-go cards, mobile wallets such as Apply Pay and Android Pay, and chip cards. Developed by global payments technology company Square, the contactless + chip card reader is available online at square.com.au for $59, with free shipping nationally. […]
The Federal Government’s Public Data Policy Statement, released last December, flagged its commitment to make non-sensitive government data ‘open by default’, with the aim being to stimulate innovation and drive productivity improvements across all sectors of the economy. Nearly a year on, a slice of data with huge potential benefits for the small business community, if […]
With the emergence of a range of new funding sources for small and medium sized businesses, it’s crucial to understand what your company’s debt funding options are and the most competitive interest rate you will be able to obtain. The following sets out the broad categories of the different funding options for businesses and the […]
New research by NRMA Business Insurance[1] shows the majority of small business owners believe the emotional benefits of running their own business outweigh the financial return. The NRMA Insurance Business Owner Sentiment Study (BOSS) surveyed more than 1,000 small business owners and found they rated being the boss (66%), work flexibility (63%) and the sense […]
Whether you are starting out or your business has been established for many years, maintaining appropriate cash flow is a critical success factor. Here are some home truths when seeking business finance that once accepted will allow you to better understand and preserve your cash for the time you need it most. Rates are less […]
When you own and operate a small business, you’ll find yourself experiencing many milestones. Purchasing a company car is often one of the significant stepping stones towards future success. The kind of vehicle you require will hinge on the type of business you run – a Ford Focus hatchback would not be particularly useful to […]
Mark Steven Grevsmuhl, the superannuation fraudster who swindled 74 people, including friends and family out of $6 million, has been hit with a permanent ban by ASIC. The ban means Grevsmuhl is prohibited from providing financial services and engaging in credit activities. This follows his conviction of multiple counts of fraud in Brisbane District Court on […]
Recent Australian Bureau of Statistics’ export figures show that Australia’s manufacturing industries continue to look overseas for export opportunities. According to ABS, 300 Australian manufacturers began exporting for the first time in 2015-2016. With international demand for Australian-made quality products, this is a trend that is likely to continue. In line with this trend, according […]
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, […]
With 30 June in the rear-view mirror, business owners should the take opportunity this month to re-calibrate and set some goals for the new financial year. Goal-setting can help you stay focussed on what really matters for the business, while preventing you from getting sidetracked and enabling you to achieve success. Find your inspiration It’s always […]
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 […]
We live in exciting time. It seems like every day a new device or application is launched that has the potential to change our lives and the way we do business. Unfortunately, most small businesses do not have the means to buy every single new innovation so they need to be pragmatic on where and […]
While it’s a vital part of good cashflow management, chasing late payments is not something that most business owners enjoy. What can you do to get your clients to pay on time? And what can you do when you’re stuck with a customer who won’t settle their debt? Prevention is cure The first way to […]
When you start a business, it isn’t just about what you do well that ensures your path to success, but your customers. Don’t fall into the trap of accepting any client because you’re desperate for business: if you are careful and patient at the beginning, it will pay dividends for your business and your reputation […]
Business planning tends to be done in cycles. A cycle may be a week, a month, a quarter or a year. At the end of every cycle, you have the opportunity to compare your business plan to your actual results. The insights you gain from this are used to plan for the next cycle. Smart […]
