Sharp Rise in Late Manufacturing Invoices
Inflation and global supply issues are being felt by Australia’s manufacturing industry with new data showing a sharp increase in the number of days outstanding for invoices issued. “Over the last 6 months the number of days it’s taking debtors to pay their invoices has jumped nearly 40%, stretching from an average of 42 days […]
Alternative Lending Options – Invoice Financing
Rising interest rates, the cost of living and a growing number of businesses finding themselves in default of their bank loans is leading to a spike in alternative lending options. Leading Australian financing company OptiPay has issued over $25M in new facilities since the start of this year – a near ten fold increase in […]
Invoice Financing Increases
Rising interest rates, the cost of living and a growing number of businesses finding themselves in default of their bank loans is leading to a spike in alternative lending options. Leading Australian financing company OptiPay has issued over $25M in new facilities since the start of this year – a near ten fold increase in […]
Invoice Financing on the Rise as an Alternative Lending Option for Smes
There has been a spike among businesses availing of invoice financing, a financing option with a revolving line of credit against unpaid invoices, as a way to improve business cashflow. One invoice financing provider, OptiPay, has reported that it provided over $25 million in financing since the start of this year, a near ten-fold increase […]
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 […]