A Must-Read Inquiry into Slow Payments for Australian SMEs
Late payments are the biggest issue Australian SMEs face. With $26 million owed in unpaid invoices averaging around $13,200 each, these businesses spend over 12 days a year in business operations chasing unpaid invoices. A lack of cash flow means stalled business growth, which often leads to debt and, in the worst case, liquidation. At […]
Must-read advice for fast-growing Australian businesses
You can easily find yourself lacking working capital, which is one of the biggest contributing factors to the failure of one in six SMEs. Here’s how to prepare your business for the opportunities and challenges associated with rapid growth. Take more care with credit policies For any new orders, make certain your customer completes a […]
Australia’s slowest paying industries revealed
These are the industries making Australian businesses wait the longest for invoice payments. Labour hire Manufacturing Mining services Commercial property services Construction Below we investigate why the big players in each sector prefer longer terms and what you can do to stop 60-day invoices from hurting your cash flow. Mining Services Last year’s Dun & […]