Australian Businesses Now Delaying Invoice Payments by a Week Longer than Six Months Ago, Report Says
New research conducted by funding solutions company OptiPay reveals that businesses are taking longer to settle invoices as economic conditions worsen globally, putting pressure on SMEs’ cashflow. The data shows that the average number of days invoices have remained outstanding invoices has increased from 31 days to 38 days in the last six months. “This […]
Continuing Chinese Shipping Delays Has Led to Tripling of Australian Trade Finance Requests
A fresh wave of COVID lockdowns in China leading to more supply chain disruptions has left Australian businesses looking for new ways to stem cash flow problems. Funding solution provider OptiPay has seen enquiries for trade finance triple in recent weeks as businesses find getting stock from overseas is harder, more expensive and is taking […]
Top Mistakes Small Businesses Make When Managing Cash Flow
It’s a tough time for SME’s at the moment. Rising overheads, supply chain issues, high staff turnover and an increase to the minimum wage – it’s no wonder many are struggling with the day to day running costs. Here at business cash flow finance company OptiPay, we’ve had a two-fold increase in inquiries as a […]
How Australian Small Businesses are Seeking Alternatives to Fund Growth
A record number of Australian small businesses are ditching traditional bank loans to fund growth and generate cash flow. “Around 75% of businesses who come to us looking for invoice financing need the extra cash flow because they’re in a period of high growth,” says Angus Sedgwick, CEO of OptiPay. “Traditionally business owners were limited […]
Why Invoice Financing Could Be the Key to Growing Your Business
When you’re starting up a business, growth is everything. But there comes a point where too much expansion too quickly can be overwhelming and cash flow problems start to make day to day business life difficult. Business owners will reach a point where they need to consider financing in order to bridge that gap. Businesses […]
Thousands of Companies to Fold as ATO Chases Billions in Debt.
Who is OptiPay? OptiPay, one of Australia’s leading business finance providers, has been dedicated to helping small business owners solve cash flow challenges for over a decade and has provided $1.5 billion in business funding to more than 500 Australian businesses. OptiPay specialises in modern financing solutions such as invoice factoring, invoice finance, debtor finance, and lines of […]
Surge in Invoice Financing as Covid Affected Businesses are Forced to Pay Up
New data from OptiPay has revealed a two fold increase in enquiries, when compared to last year, in the number of businesses requesting invoice financing. Invoice Financing (or debtor finance) is a revolving Line of Credit against unpaid invoices, to improve business cash flow, after the ATO announced it was resuming tax debt collections. OptiPay, […]
Increase in Invoice Financing as Ato Ends Moratorium
Invoice financing is a revolving line of credit against unpaid invoices and the most recent increases in applying for it were noted after the Australian Taxation Office announced it was resuming tax debt collections. The amount of debt owing to the ATO has climbed 14 per cent from the same time last year to over […]
Invoice Financing Requests Surge as Businesses are Forced to Pay Up
Invoice financing is a revolving line of credit against unpaid invoices and the most recent increases in applying for it were noted after the Australian Taxation Office announced it was resuming tax debt collections. The amount of debt owing to the ATO has climbed 14 per cent from the same time last year to over […]
ATO Collecting Debts Again: Here’s What That Means for Aussie Businesses
With the Australian Taxation Office resuming tax debt collections early last year and supply chain issues continuing to bite, many businesses have been looking for ways to improve their cash flow. That’s why far more companies are turning to invoice financing, OptiPay chief executive officer Angus Sedgwick told Yahoo Finance. This is a type of […]