Making the most of tendering opportunities
Should my business bid for Government contracts?The short answer is yes. In fact, it shouldn’t be a case of ‘why’ but ‘why not’? Why tender?Providing goods and services to Government and the Public sector can be highly lucrative for small business. Winning a Government contract can be a great way to establish a name, generate […]
‘Excessive’ ATO debt recovery measures a threat to business solvency
The controversial debt recovery tactics employed by the Australian Tax Office (ATO) have been called in to question by the Australian Small Business and Family Enterprise Ombudsman Kate Carnell. A recent review by the Auditor General found that Australia’s 3.8 million small businesses currently owe nearly two thirds of collectable tax debt. While the ATO’s […]
Why more brokers recommend invoice finance
Cash flow is a critical success factor for any business. We recently conducted survey within our Broker network (Australia and New Zealand) with the aim of learning more about the causes of cash flow stress, how people react, and what measures can be taken to manage it. Our survey found that 75% of Brokers would […]
The UK market – levelling the playing field for invoice payments
Regulators in the UK have recently proposed a ban on unfair contract agreements for SME’s. Currently UK corporates can include terms with their suppliers that prevent those businesses from borrowing against unpaid invoices – that is, using invoice finance. This initiative is one of a series of measures by the UK Government to combat late […]
With tax cuts for big business abandoned, what is the fallout for SME’s?
The news has been dominated in recent days by the Liberal Party Leadership saga, a new Prime Minister and a new Cabinet. However, the last days of the Turnbull Government saw proposed corporate tax cuts for big business being consigned to the scrapheap. The contentious plan to cut the corporate tax rate for big business […]
How fast finance can become a long-term problem for SME’s
We are pleased to see the findings of the landmark report released by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) published in June this year. Since her 2016 appointment, Kate Carnell has been targeting the lack of funding options for Australia’s 2.2 million Small Business owners, many of whom rely on credit to support and […]
Can Credit Cards help Small Business?
According to report in the Sydney Morning Herald today, Australians owe $45 billion on credit cards and are paying more than five billion dollars a year in interest. Where does this kind of ‘debt trap’ leave small business? Accessing affordable funding is an ongoing issue for small business. The RBA has previously reported that due to a lack of […]
The big lesson for small business arising from the Banking Royal Commission
The Royal Commission into Australia’s banking and financial services industry has highlighted the issues many business owners have faced in recent years — and it isn’t over yet. But it’s already taught us one thing: if you’re a small business, you might want to think twice about relying solely on the banks that earn billions […]
Is the Royal Commission putting at risk our entrepreneurial culture?
We read with interest this recent article from James Morton of The Advisor. James highlights some of the issues around small business lending emerging as the Royal Commission unfolds. Throughout the Inquiry, Banks and Brokers are being painted as villains, with small business being led to take on too much risk. The unfortunate fallout from […]
Why invoice financing is a great fit for manufacturing
By it’s very nature, the manufacturing industry lends itself well to invoice financing, a flexible and agile funding method. Manufacturing is alive and well in both Australia and New Zealand. Reports are stating that the manufacturing industry in Australia is heading for a renaissance, with 40,000 new jobs created in 2016. In New Zealand, manufacturing also plays a […]
