Why businesses no longer need to mix their business and personal finances
Traditionally, for SMEs looking to finance their business it was necessary to use a large chunk of personal collateral as security. In many cases this linking of personal and business finances led not only to more stress, but sometimes, day to day concerns like waiting for invoices to be paid, could have a damaging effect […]
SME’s and mega projects – should your business be tendering?
The Australian Infrastructure Audit released last month predicts that Australia’s population will grow by 24 per cent reaching 31.4 million by 2034. The outcome of this will be significant pressure on infrastructure, particularly in our largest cities. The 2019 Budget saw the Federal Government pledge to invest $100 billion over 10 years to manage the needs of […]
Small Business Counts report predicts a shake-up of the aging SME sector
According to a new report released at the Council of Small Business of Australia (COSBOA) Summit last week, 61% of employing small business owners are approaching retirement age. This statistic coupled with the fact that the majority of small business owners are aged between 45 and 59 years could lead to a significant shake up […]
Small business owed $115 billion in late payments – XERO
New research from the global small business platform Xero and AlphaBeta Advisors reveals the significant impact that late payments have on small businesses in Australia. The research goes as far as putting a dollar value on the amount outstanding of $115 billion per year. According to the research, half of all trade credit invoices are […]
“Poor cash flow is the primary reason for business insolvency in Australia” – Kate Carnell
Poor cash flow is the primary reason for business insolvency in Australia” – Kate Carnell, Australian Small Business and Family Enterprises Ombudsman The Australian Small Business and Family Enterprises Ombudsman (ASBFEO) has released a report of large business payment terms, with the aim of measuring the impact of delayed payments on small business. Large businesses across […]
ASIC reveals inadequate cash flow a key reason for corporate insolvency
Small to medium business insolvencies dominate external administrator’s reports, according to an ASIC’s report of corporate insolvencies for the 2017-18 financial year. This year’s findings are consistent with the last two, revealing the top reasons for businesses failing as; inadequate cash flow or high cash use, this cause was nominated in almost half (49 per […]
