A very expensive lunch, three course meal, wine and a two year contract
All up $240,000.00 plus tip! OptiPay was recently asked to submit a proposal providing a full funding solution for a business requiring $500,000 per month. On following up the submission we had been advised that the potential client had decided to fund with an alternate provider. Well that’s business, but we did ask why and […]
More than just a bean counter – your Accountant is a great asset
Accountancy is the language of business. If you can speak that language, you can learn a lot about how your business is performing by setting everything out clearly and in precise numbers. In order to have those accurate figures to hand, you’ll need a good accountant. However, many SME’s simply use their accountant to ensure […]
A different kind of cash flow solution
So, you think all cash flow solutions are the same worn out beast………Well, read this! A specialist Engineering Company involved in a JV for the delivery of Precast Concrete Tied Wall panels required a smart solution to secure the contract. In order to manufacture the product the client had to purchase the raw material from […]
Does Australia need legislation on late payments?
Any small business which works with larger companies knows that getting their money when a job is complete can be a frustrating process. The ‘culture of late payments’, as it is politely referred to, means that corporations impose their own payment terms on smaller suppliers who have little choice but to accept them if they […]
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 – […]
You don’t know what you don’t know
Improved operating margins through innovative business cash flow acceleration at 4.87% pa. Our transport client was running a full facility with a first tier factoring company, which was costly, restrictive, had all the recourse to the client, inflexible and onerous covenants. They sought the advice of a business consultant who recommended alternate solutions may be […]
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 […]