Lack of Business Finance Means Lost Opportunities
If your business has all the funding it needs to keep trading successfully it may be in the happy minority among Australian SMEs, but this isn’t an ideal situation if you can’t invest and grow. Have you ever thought about the cost of not investing? At OptiPay (OptiPay), we spend a lot of time talking […]
Bad Trade Debt: Five Ways to Protect Your Business
In our last article we looked at the dangers of providing credit to customers by giving them 30 or even 60+ days to pay for your goods and services. We compared this to juggling hand grenades in your office, never knowing if one of these trade debts is going to ‘go off’ and destroy your […]
Savvy bookkeeper assists client in securing funding for BAS payments and improves ongoing cash flow
Our client came to us via a proactive bookkeeper, who identified well in advance of the BAS due date that one of her client’s was going to have problems with finding sufficient cash to pay the ATO on the due date. On top of this, the business was offering 6% early settlement discounts to customers […]
Accounting Practice Provides Valuable Assistance to Client
This accounting client is a fast growing, profitable wholesaling business. The bank has been providing an overdraft facility for several years. The client was looking to bring on more employees and increase purchase orders for the growth. However, the client wanted to free up their personal property portfolio which the bank had as security. The […]
Credit Terms: The Live Grenade Under Your Business
If you are an SME that supplies other businesses (B2B), the chances are that you are also a lender. In fact, you’re part of Australia’s second largest business funding sector, after banking. This is because most businesses extend credit to each other: whenever you agree that an invoice can be paid 30, 60 or even […]
Client Dodges a Bullet
Our new client required funding to complete the building of their production facility and had approached their bank for an increase to their property loan, and negotiate an increase to their cash flow funding facility from an advance rate of 65% to 90% of the accounts receivable ledger. The valuation placed over the directors property […]
How Much Should Business Owners Pay Themselves?
The question of how much a business owner should pay themselves hit the headlines in Australia recently. For established SMEs, suitable business funding and healthy cashflow are the keys to happy earnings. Boost Juice founder Janine Allis recently told SmartCompany that “the smartest thing you can do as a new business owner is put your […]
How to Cut Costs and Make Your Business Better!
When concentrating on growth and realising their business vision, most entrepreneurs tend to focus on sales. But there comes a point where you will want to make your business as profitable as possible, either in advance of your exit, or because you want to reap the rewards of what you’ve built. At this point, it […]
A BIG Business solution utilised by a small business with exciting results
Our new client is a small but fast growing business in the corporate Promotional Products sector. They have operated their profitable promotional items business for five years with great success. They want to grow and are pitching for larger corporate accounts with great success, but are faced the following problems: 1.…Limited asset security (it’s an […]
Considering making redundancies? There are usually better options
When an entrepreneur starts or takes over a business, they naturally envisage a growth trajectory that creates employment. However, just as one of the most satisfying aspects of running a business can be the benefit it brings to others in the community, one of the toughest decisions an owner can face is the need to […]