25 September, 2017
One of the biggest hazards to small businesses in Australia is poor cash flow. Statistics by ASIC prove that 51% of small businesses do not survive beyond four years of operation, poor cash flow the cause of nearly 90% of these failures. The Australian Small Business and Family Enterprise Ombudsman found small businesses are being used as a form of “cheap finance” by larger companies. At Apricity, we think any business suffering from late payments should look for ways to relieve this situation. But finding ways to do this without upsetting your customers can be a challenge.