Wholesaler? Here’s How to Reduce your Days Sales Outstanding (DSO)
If you want to take your wholesale business to the next level, you will need to offer credit terms to your customers. Offering credit comes with a whole other set of responsibilities, as collecting on this credit in a reasonable timeframe is essential to ensuring your business’s cash flow. Their needs to be a balance […]
A Few Strategies to Manage The Ongoing Collections and Recovery of Outstanding Invoices for Your Business
Running a small to medium business is tough work at the best of times. Monitoring and maintaining sufficient cash flow can be a constant struggle for many small business owners. Cash is required to pay suppliers, wages and bills, as well as fund growth opportunities when they arise. One of the biggest disruptors to cash […]
8 Important Questions to Ask Your Accountant this Financial Year
If you are a small or medium business owner, you probably aren’t in meaningful regular contact with your accountant. Instead, your relationship is occasional, and any communication will be limited to your accountant providing the latest financial statements for your business. The balance sheet and profit and loss statements will be given a glance, but […]
How Different Types of Non-Bank Financial Institutions Can Help Your Business
Almost everyone has heard of a bank – they take deposits and lend out money to consumers and businesses who require funding. While banks are common knowledge, non-bank financial institutions (NBFI) remain less understood. An NBFI is a commercial entity that offers loans and other financial products, yet does not hold a full banking license […]
Cash Flow vs Asset-Based Lending – What are the Differences?
Almost every business will access borrowed capital at some point throughout their lives. No matter what stage your company is at, external funding provides the liquidity you will need to pay your bills, secure new suppliers and market your goods and services to new customers. As you set out to secure funding, whether it is […]
5 Key Metrics to Monitor the Health of Your Business
Video Transcript People elect to be self employed business owners for a variety of reasons. Some inherit a family business, others may have a passion that they want to turn into a business such as a fitness training business, others just might want to work for themselves and not have a boss, whilst others […]
How to Choose an Invoice Finance Provider
Video Transcript If you think invoice finance would be a great solution for your business, it’s time to look at individual providers. When choosing a provider, consider their ability to service the business of your size, location and industry. Once you’ve established this, make sure you ask the following questions. How flexible is their […]
Manufacturing is Alive and Well in Australia, Although the Industry is Changing
Many people believe that the manufacturing industry in Australia, and much of the Western world, is experiencing a significant structural decline. We don’t demand physical goods in the same way as we used to and instead, increasing our purchases of digital products, data and intangibles. Some may even predict a future where almost nothing physical […]
Australia’s Best-Kept Cash Flow Secret
Video Transcript The use of invoice finance as an effective business funding solution is growing year on year around the globe. While increasing at a rapid rate internationally invoice finance has not had the same penetration in the Australian business funding market. Invoice finance accounts for about 4% of Australia’s GDP, compared to over […]
How to Protect Your Cash Flow and Plan Ahead for Business Success
Regardless of the business or industry, growing sales while limiting expenses may not the be-all and end-all many think it is. While striving to improve profits is an important goal, cash flow is often a better measure of business success. Profit is an essential accounting measure however, it is cash that pays the bills. The […]