Alternative Lender Reports Spike in New Client Take-ons
Australian financing company OptiPay has reported issuing more than $25 million in new facilities since the start of this year – nearly a tenfold increase – as rising rates and surging cost of living make access to traditional funds tougher for many businesses. “We’ve had a huge spike in broker-driven enquiries as access to capital […]
Christmas Cash Flow Crush for Australian Businesses
Australian businesses are being warned to prepare for cash flow challenges this Christmas with an increase in unpaid invoices, rising inflation and staffing shortages. Internal data from funding solutions provider OptiPay shows the average SME is waiting on average 38 days to be paid and this is likely to be compounded by staff shortages, holidays […]
Port Crisis the Final Straw for many Businesses: Finance Expert
The ongoing dispute threatens to create further stress on the already strained global supply he ongoing dispute between Danish tugboat giant Svitzer and the Maritime Union of Australia threatens to create further stress on the already strained global supply chain, a senior finance executive has warned. Mr Angus Sedgwick CEO of OptiPay, which provides finance […]
How to Tackle Late Invoices
A complaint common from many small-business owners is the never-ending chasing of overdue invoices. Research shows nearly one-third of Australian business owners spend eight hours a week collecting late payments. So, how do you best approach overdue invoices? 1. Optimise your systems The best way to avoid overdue invoices is to prevent them from happening […]
Invoice Finance Gets Slow Cash Flow in Agribusiness Hands Faster
Demand for farm sector services and products is as bullish as it’s ever been, but small to mid-sized businesses are also carrying huge expenses as they absorb spiralling running costs while awaiting payments on monthly invoices. Surging fuel and power prices, expensive supply chain delays and rising interest rates are compounding the usual pressures for […]
Alternate Sources of Funding for Growth
With tougher economic conditions and tighter lending criteria, Australian SME’s are increasingly looking to alternate sources of funding. New data from funding solutions company OptiPay shows an increase in small businesses seeking invoice financing, which is commonly used by SMEs overseas as alternate sources of funding. “With banks tightening up on how much and how […]
How to Better Manage Business Debt
There comes a time for many SMEs where external funding becomes a necessity for maintaining growth and ensuring success. Whilst debt can be a fantastic tool to acquire the working capital your business needs to grow and expand, it has to be managed carefully. One of the biggest mistakes SMEs make is taking on too […]
Tougher Road ahead for Australian SMEs
Despite all the doom and gloom predictions, COVID was really not that bad for many Australian small businesses. Whilst some industries like travel, entertainment and hospitality were decimated, on the whole, Australian SMEs rode the COVID wave and came out the other side. Employees quickly adapted to work from home and propped up by Job […]
SMEs Feeling the Pinch as Invoice Payment Times Blow Out
Non-banker lender OptiPay said the credit squeeze is starting to bite with inquiry levels leaping up to 40 per cent and invoice payment times blowing out beyond a month. OptiPay chief executive Angus Sedgwick said his SME clients were increasingly struggling with cash flow in the wake of COVID as debtors took longer to pay […]
Funding Alternatives by OptiPay – Retail World Magazine
A record number of Australian small businesses are ditching traditional bank loans to fund growth and generate cashflow. OptiPay, formerly TIM Finance, provides cashflow solutions to Australian businesses, with “innovative” funding solutions such as invoice finance, inventory finance and lines of credit. OptiPay says it has noted a two-fold increase in businesses inquiring about invoice […]