July 8 2019 What you need to know about credit

It’s no secret that inadequate cash flow is one of the main reasons why businesses fail in Australia. Dynamic Business only recently talked about this issue last week, with new research commissioned by H&R Block found that the biggest struggles for small businesses across Australia are: ‘cashflow’ (35%) ‘marketing effectiveness’ (30%) ‘lack of support’ (19%) Read More…

July 2 2019 60% of small businesses shut down within first 3 years: H&R Block has ‘Grants for Growth’ to stop it

With more than 60% [1] of small businesses shutting down within their first three years, Australia’s leading tax accountants, H&R Block are offering small business and start-up’s a helping hand with the initiative; ’Grants for Growth’.  Now in its second year, the grant offers support to budding entrepreneurs who need an extra boost to transform Read More…

June 7 2019 A sale is only a sale once payment is made

Most businesses trade on credit terms with their customers, letting them purchase as they need and pay later. This can be a great way for businesses to build their customer base and gain more work or sales, since customers will often buy more if they don’t have to pay immediately. However, extending credit to customers, Read More…

June 6 2019 How SMEs can avoid common financial pitfalls by managing cash flow

Setting up a small business can be an exciting yet daunting experience. By the time you actually launch your business you have likely experienced a lot of uncharted waters, sleepless nights, caffeine highs and are generally left questioning your overall sanity. Trust me I know. In 2008 my brother and I started our business, Credit Read More…

May 28 2019 Small business owners prioritise climate change, energy costs and tax cuts

A new survey from Xero, the global small business platform, has revealed a disconnect between small business owners and politics, with a whopping three in four (75 per cent) unable to name the Federal Small Business Minister, and 15 per cent unable to name the Prime Minister. Despite many not being able to name key Read More…

May 20 2019 Robots could help Aussie businesses save more than $100 million in energy costs

Robots are helping Australian businesses navigate the complex energy market and save millions of dollars in energy costs. Data released today by Australian technology company BidEnergy shows that over the last 12 months robots found savings totalling $2.6 million in 822 instances. For one large enterprise customer, robots found a saving of more than $25,000 Read More…

May 9 2019 Australian small businesses losing $5.8 billion each year

Insufficient cash flow means lost opportunities  Australian small businesses have lost opportunities worth an estimated $5.8 billion due to insufficient cash flow1 Nearly half (46 per cent) of Australian small business owners have been at risk of being unable to pay their employees1 More than a quarter (26 per cent) of Australian small businesses that Read More…

May 6 2019 Admin ‘killing the dream’ of Australian Small Businesses

Research reveals financial and emotional burden of administration on small businesses ahead of new Single Touch Payroll reporting regulation Australian small businesses estimated to collectively spend over $20B a year on admin and payroll Half of small business owners also willing to sacrifice wellbeing Reckon launches hub to help small business owners get ‘in the Read More…

April 30 2019 Ombudsman supports Business Growth Fund for high growth SMEs

The Australian Small Business and Family Enterprise Ombudsman (ASBFEO), Kate Carnell today welcomed the announcement of an Australian Business Growth Fund, a recommendation in the ASBFEO’s Affordable Capital for SME Growth report. “Our report identified the need to address a critical funding gap for long-term, patient capital to enable our up-and-coming, high growth potential small Read More…

April 23 2019 National research reveals SMEs’ top five funding frustrations

Around 9 out of 10 Australian SMEs are frustrated about their business funding, naming onerous loan conditions, having to provide property security and a lack of flexibility as their major concerns. These are the findings of the latest SME Growth Index, conducted independently by banking market analysts East & Partners, on behalf of national working capital Read More…

April 17 2019 Federal Election is no Easter treat for Australia’s small business community

Australia’s small to medium enterprises (SMEs) are bracing for a double whammy of disruption from the back-to-back Easter/Anzac Day public holidays coupled with a Federal election. 59% of SMEs say major political events such as elections have impacted their business in the past. 27% of SMEs expect the 2019 Easter/Anzac holiday period to negatively impact Read More…

April 15 2019 Banks rejecting SMEs for finance

The challenge of securing bank finance is seeing a growing number of small and medium enterprises (SMEs) turn to online lenders. One in four SMEs have been knocked back for bank finance Among SMEs rejected by a bank, one in three have turned to family/friends or a credit card for funding Of those SMEs that Read More…

April 4 2019 Stay savvy with business loans and save

Staying with a Big 4 bank could cost you $6,007 in extra interest on a $250,000 business loan over 5 years The average Big 4 business loan rate is 88 basis points higher than the average of the challenger banks The Big 4 failed to pass on the 100 basis point cut to the official Read More…

April 2 2019 Xero’s Small Business Insights shares key small business findings

The accounting app Xero share their Small Business Insights with us to shed light on what small businesses should be aware of, which is now made especially relevant with the federal budget announcement later today. The anonymous and aggregated data is collected monthly from hundreds of thousands of Xero’s Australian subscribers through the Xero platform. Read More…

March 20 2019 Waddle secures $4M in Series A funding

Online lender and invoice finance solution company, Waddle, yesterday announced it has secured AUD$4 million in Series A funding. The funding round was secured from experienced technology investor, Allectus Capital Limited (Allectus), and will be utilised to aggressively scale the platform in Australasia and accelerate the integration of Waddle’s global financial services partners. The raise Read More…