You might be next! Find out what can REALLY kill your business and how to avoid It.
An independently commissioned cash flow crisis report by OptiPay (OptiPay) illustrates that Australian businesses are constantly owed an average $38,000 each, with corporate customer excuses ranging from ‘lost in the system’ and ‘in dispute’ to ‘being reviewed internally’ and ‘being processed offshore’. In fact, the primary cause of failed SMEs for three years running has […]
How a large order almost crippled a business but smart supply funding turned things around
The client designs and constructs bespoke generators to the construction and underground mining sectors. Background The client had recently been awarded a tender which required an increase for overseas components and domestic partner contribution for the accommodation of the complete project, plus there was a requirement for overland delivery using Australian heavy haulage to site […]
Logistics: a forgotten cost that can yield major savings
Most businesses require some form of logistics, but some are better at managing the associated costs than others. The good news is that many SMEs can make significant savings if they borrow the ideas and approaches pioneered by large corporations. Although it could be argued that email and the Internet are the ulOptiPayate in streamlined […]
Need a letter of credit? Consider the alternatives first
Many small and even medium-sized businesses go through most of their life cycles without ever needing a letter of credit from a bank. They have a set of trusted suppliers whom they pay on time following delivery, as specified in an invoice. Then along comes the big chance they’ve been waiting for: a huge order […]
3.62% pa IMPROVEMENT in net cash flow! – OptiPay’s weekly funded scenario
Revolving, unsecured, 80% advance rate, protected and smart! OptiPay has an existing client funding approximately $145,000.00 per month. The client designs, imports and constructs a broad range of container solutions and containers to hold liquids, such as water, waste and solvents. A highly specialised area of expertise. The client approached OptiPay because they needed to import and design […]
Are your clients as happy as you think?
How happy are your customers? Do you know they are happy, or do you just think you know? A report by media agency Starcom, presented to the Australian Association of National Advertisers last month, provides a sobering reminder of the dangers of taking clients for granted. Starcom’s report showed a widening ‘expectation gap’ between companies […]
Accountancy practice provides some very insightful advice
Their client was a successful, very profitable fabrication business. The bank had provided an overdraft facility and equipment finance. The client was looking to bring on more employees and increase purchase orders. However the client wanted to free up their personal property portfolio. The bank offered to increase the existing overdraft facility as the client’s […]
Your business plan is important – stick to it!
It’s a rite of passage for budding entrepreneurs and one of the first exercises any business incubator will put its recruits through: we’ve all written a business plan at some stage. How many people actually use it? Many business plans get written for a specific reason – often to back up an application for a […]
Why your business should be ready for sale
Perhaps the most common mistake in business, is staying in business for too long. Many people who own a small or medium-sized enterprise in Australia today have been doing it for decades. Some businesses have been in the family for generations, but only in certain circumstances is that a good thing. At some point, you […]
Reviewing your business financing
When business is brisk, it’s tempting to make hay while the sun is shining. If you have an amazing business with a truly unique selling point, that might work out fine. For many businesses though, it is an approach that stores up problems and leads to profits being handed to banks or other finance providers […]