Six Common Accounting Mistakes Small Businesses Make
Accounting is one of the most critical cogs of business, yet many business owners view it as a chore and not an opportunity. Consequently, they either put off or absolutely hate it, to varying degrees of negative consequences. You need to stay on top of your accounting whether you have someone in-house to do it […]
Improve Your Credit Score With These Simple Tips
Having a solid credit score is often overlooked. No matter your situation, having a great score is an asset to your business and personal finances. Financiers use credit scores to assess your ability to repay your debts based on your history. Therefore, you’ll need to have taken out a form of credit at some point […]
Are You Being Scammed? Six Ways To Avoid a Cybersecurity Disaster
Cybersecurity has become an exploding industry as digital threats continue to increase. Everyone is a potential target, especially businesses with highly digitised and valuable online operations and systems. Malicious online crime is lucrative for scammers, with the average cost of cybercrime to a company in Australia being $276,000 according to the Australian Cybercrime Online Reporting […]
Six Tips to Better Manage Business Debt
There are a lot of factors to consider when managing a business of any size. Leaders of small to medium enterprises (SMEs) generally take a more hands-on approach to a broader range of responsibilities, with less expertise in each. Not every small business owner is well-versed in finance, and yet it is one of the […]
Five Reasons to Keep Your Business and Personal Bank Accounts Separate
If you’re a small business just starting out, you’ve probably had a lot to think about and consider. One of the major concerns of any business (new or existing) is its finances. How do we charge our customers? How do we secure the funds we need? What administration is required to pay our taxes? You […]
How Fintech Can Help SMEs Succeed in a Challenging World
Australia’s 2.1 million small to medium enterprises are the backbone of the country’s economy, employing over 7.3 million people or about 68% of Australia’s overall workforce. Unfortunately, the COVID-19 pandemic has made the situation difficult for SMEs to thrive; some businesses have been forced to close entirely or temporarily as demand plummeted during the pandemic. […]
Tax Tips: Can Debtor Finance be Used to Pay Your Taxes?
Taxes are an unfortunate part of life. No matter how you earn an income or spend your money, you will be taxed along the way. Running a business also necessarily involves taxes, which can become a burden if not managed and planned for effectively. Every business registered for GST needs to lodge a business activity […]
How to Best Approach Overdue Invoice Payments
Running a small to medium enterprise (SME) is never an easy task. While you would rather spend your time running your operations, planning future strategy and enjoying your successes, there is an endless number of unwanted issues and challenges that may disrupt your focus. One of these is the financial reality of getting paid by […]
Strategies to Manage Your Business Better in 2023
Growth is essential for almost all businesses, especially now that companies have quickly adapted operations to suit a remote workforce, consumer preferences are shifting faster than ever, and business models are continuously evolving. Businesses, of any size and form, need to embrace these changes in order to be competitive, remain relevant, and provide an excellent […]
What Makes Alternative Financing Options Great For SMEs?
Most of the time, you’re responsible for funding everything in your small to medium enterprise (SME), including staying liquid throughout all your operations. When there’s a crisis or an unexpected expense that you need to pay, you may want to consider your options for faster funding alternatives. Banks simply won’t be your best choice when […]