The Great Business Banking Rip Off
Barely a week goes by in Australia without news of another broken relationship with a big bank on small business making the headlines, and yet the full extent of relationship between the business and bank is not fully known. One of the the biggest issues that seem to come up, over and over is the […]
Make a 1% change this year – and watch your profits grow!
Like just about everyone else in the world, most business will have set themselves goals for the New Year. But unlike all those with resolutions to go to the gym or cut back on booze which tend to peter out by the end of January, entrepreneurs are determined people: they’ll still be battling to improve […]
Who’s missing the point on bank lending?
Small Business and Family Enterprise Ombudsman Kate Carnell was back in the news recently as she rightly derided claims by Australia’s banking leaders that lending to SME’s is booming. Carnell said the banks’ arguments ‘miss the point’ when it comes to small businesses, because they only tend to lend where there is strong security – […]
Don’t let your business die with you
Nobody wants to be morbid and dwell on death, but being a business owner comes with responsibilities. Therefore, every business owner really ought to put some thought into what would happen if they die. Succession planning remains an unfashionable niche of business management: statistics suggest that up to two thirds of Australian business don’t even […]
How to ditch your business overdraft and expensive business loans
There was a time when every Australian SME had a business overdraft. They were widely available and because interest was payable only when the company was ‘in the red’, they were considered a relatively cheap source of short term business finance. However, many businesses which were reliant on their overdrafts for cash flow have started […]
Off Balance Sheet is not a Dirty Word
Talk to a salt of the earth Australian businessman about off-balance sheet financing, and he’s likely to look at you askance. Quite rightly, people want to do things by the book, especially when it comes to business financing. But that doesn’t necessarily mean on the books. That’s because the practice of raising funds in a […]
The Most Underutilised Asset in Business
Most small businesses have ambitions to grow – whether to become a global mega-corporation or just to establish a more secure and comfortable future for their owners. In order to do this, their people and assets need to work harder, and they will also probably require funding. What if we told you that there’s an […]
Terms & Conditions help with financing – and business in general
Flexible invoice discounting means you can get access to the money you are owed immediately, but it doesn’t mean that you should let customers walk all over you. Every Australian business has a right to be paid within a reasonable timeframe, and should make that clear in a key document that every business should have: […]
Calculating The Real Cost Of Business Lending – Part 2
In the previous blog of this series, we looked at how to calculate the cost of business funding, and found some surprising results: Business loans which you have to pay off over a period of years can turn out to be more expensive that they look. Because most lenders charge fees for setting up and […]
Calculating The Real Cost Of Business Lending – Part 1
Finding out the real cost of financing your business is a crucial part of any plan to expand, boost profits or just improve your cash flow. Unfortunately, this basic task is not always easy. Getting a real cost before agreeing a business loan means digging into the small print and getting your calculator out. However, […]