These 7 Strategies Will Help Stabilise and Grow Your Business During Tough Times
Operating a small to medium enterprise (SME) is a challenging task, even when the economy is doing well. According to data from the Australian Bureau of Statistics, over 60 per cent of small businesses stop their operations within three years, with a far higher number failing to last the length of a typical economic cycle. […]
4 Business Challenges for Small & Medium Businesses and How Having Sufficient Working Capital Will Help
Operating a small to medium business (SME) can be a highly rewarding experience. With your hands on the pulse, there is never a shortage of action. However, such responsibility also brings a unique set of challenges and priorities. Without the backing of a larger organisational structure or various forms of funding, financial challenges tend to […]
How to Chase Late-Paying Customers Without Ruining Your Relationship with Them
Does your SME regularly deal with late-paying customers? You’re not alone. According to Xero’s 2019 Paying the Price report, over 53% of all invoices owed to small to medium businesses are paid late, with big business the most significant offender. During the current uncertain business environment, the time-to-payment has only ballooned further as almost all […]
How to Keep Your Business Employees Motivated
Most new employees hit the ground running and are keen to impress their new boss. However, over the next few months the monotony of the daily routine kicks in, they get comfortable in their team and settle into mediocrity and complacency. While this scenario is seemingly all too common, the good news is that there’s […]
Invoice Finance Companies are Not Debt Collections Agencies
Invoice financing and debt collection are two disparate things that frequently get mistaken for one another. Though the two really have nothing to do with each other, misunderstandings abound. As such, it is a good idea to review the roles of financing companies and debt collection agencies, how they are different, and the common reasons […]
Keeping a Business Afloat During a Rough Patch or Even During High Growth Can be Difficult
Every business goes through rough patches — times when money is tight, and you’re wondering how you’ll get through the coming weeks to pay for operating expenses, and wages. Research shows that more than half of all start-up businesses will fail within four years. Insufficient capital is the key reason that businesses fail. A lack of […]
Alternative Funding Has Earned its Place in the Mainstream
As a mortgage and/or finance broker, what do you understand by the term ‘alternative finance’? For some people, it just means conventional loans from non-bank sources. Others view the term with suspicion, or think of new-fangled fintech formulations that are not for them or their clients. In fact, the term is something of a misnomer […]
Free Trade? It Can Be Easier Than You Think
In a search for trading partners and opportunities, Britain’s foreign secretary made Australia his first port of call recently. All smiles, he was keen to talk about the mutual advantages of free trade, but while Dominic Raab faces years of long-winded negotiations to develop new relationships with countries across the globe, international trade for companies […]
Know Your Alternatives
Being in business will always entail a degree of risk, but it should not mean that business owners have to put the family home on the line. Financial advisors can play a key role in ensuring entrepreneurs can fund a growing business without having to take unnecessary risks. All they need to do is consider […]
Use Cash Flow Finance to Revolutionise Your Manufacturing
Recently we looked at the benefits to businesses of going green, and how companies large and small are recognising this. For manufacturers, there is exciting talk of a green revolution – but the levels of investment required to join this growing movement are relatively high. SME manufacturers looking to go green, make their production lines […]