May 10 2017 Federal Budget: small business $20k instant asset write-off scheme extended by one year

Businesses with an annual turnover of up to $10 million will benefit from the $20,000 instant asset tax write-off scheme for a further 12 months, the Government announced in the Federal Budget. The extension has generally been welcomed, although there have been calls to make the measure permanent and increase the write-off threshold to benefit more businesses.  Read More…

May 8 2017 A permanent $20k tax write-off for SMEs would help arrest government distrust says MYOB CEO

Ahead of this week’s Federal Budget, two-fifths of the small business community are not confident of a favourable outcome, according to research undertaken by accounting software provider MYOB. Dynamic Business asked MYOB CEO Tim Reed to unpack the findings of the company’s SME Snapshot, a monthly survey of small to medium businesses from its customer Read More…

April 28 2017 The French election: How Australian businesses can prepare for a fresh round of uncertainty

In recent times, Australian businesses with global ties have experienced a prolonged period of uncertainty, riding out everything from Trump’s unpredictable administration to Theresa May’s shock call for a snap election. The French election for presidency is no exception, with Marine Le Pen now through to the second round of voting. The far-right candidate is Read More…

April 20 2017 ‘Act like a large company’ and other tips to help SMEs avoid the sting of late payments

Last week, the Australian Small Business and Family Enterprise Ombudsman released the findings of the Inquiry into Payment Times and Practices in Australia. The results were startling but, for many small businesses across Australia, they were not surprising. The inquiry revealed almost half of small business are owed more than $20,000 from late payments, and Read More…

April 13 2017 Small businesses being used as ‘cheap form of finance’ by larger ones: late payment inquiry

By extending payment times to small businesses in the supply chain, large Australian and multinational organisations are effectively using them as ‘a cheap form of finance’, according to a new report by the Small Business and Family Enterprise Ombudsman (ASBFEO). The report, which responds to the Ombudsman’s inquiry into payment times and practices, highlighted the Read More…

April 13 2017 Change afoot for credit card interchange: what the new rates mean for small business

Australians will feel the impact of the upcoming new credit card interchange regulations — we’re a nation of points junkies with 11 million Qantas Frequent Flyers * alone. But while everyone’s thinking about how the reverberations of these changes affect consumers, it’s easy to forget that new interchange rates raise a number of big questions Read More…

April 3 2017 How to successfully transform financial management processes in your business

Businesses that can gain visibility into expenditure, automate spend management and achieve effective governance of spending policies can achieve stronger cash flow. But, for many companies, getting a tighter grip on corporate spending can present a daunting challenge. For example, Concur’s recent ANZ spend management index found that, while 82 per cent of respondents have Read More…

March 31 2017 Late payment research from Amex and Xero highlights the cashflow burden for SMEs

Coinciding with the anticipated release of the Small Business Ombudsman’s report on its inquiry into payment times and practices, American Express has released research showing mid-sized Australian businesses owe $8 billion in outstanding payments to suppliers, with more than $2 billion currently overdue. According to Martin Seward, ‎VP, Small & Medium Enterprises at American Express Australia, Read More…

March 30 2017 Cash flow problems are killing SMB growth: here are five ways to safeguard your business

The numbers are in and the news isn’t great for Australian small business owners. Research undertaken for the latest Scottish Pacific SME Growth Index * shows more than half of SMBs cite cash flow as a major barrier to growth (56%). Less than one in ten are content with their cash flow and around three-quarters of growing Read More…

March 29 2017 Five considerations for every small business exporter

Australia’s small businesses often face a number of hurdles before they can establish successful export operations. Taking a lesson from successful exporter and music education supplier, LearnToPlayMusic.com (LTPM), small businesses exporters should follow these five steps to maximise export success. Identify the market gap LTPM’s founder, Gary Turner, had a vision when he started his Read More…

March 29 2017 Square partners with Vend and other leading POS and order management platforms to provide more sellers with access to payments services

Australian businesses using Vend, TouchBistro, Posboss, Abacus, SalesIn, Mobi2Go or Boppl can now integrate with Square to simplify payment needs. The integration will give business owners across Australia who are using alternative point-of-sale and order management platforms the ability to accept payments with Square. Australian businesses can now access Square’s affordable hardware, fast deposits and online payment solutions Read More…

March 16 2017 Need-to-knows before diving into importing

Australian SMEs and start-ups are increasingly taking advantage of the changing global economy and importing goods that may not be available locally or can be produced at a cheaper price overseas. While importing can be an excellent way to grow your business and keep production costs to a minimum, it is important for SMEs to Read More…

March 14 2017 Business finance tools: how to know when your business is ready for invoice factoring

Cash flow is usually the single greatest challenge that small, growing companies face. Businesses may possess full order books and command plenty of sales but may be starved of liquidity one day to the next, for payroll and payments that come due. While obtaining credit is an option, it isn’t usually easy to come by, Read More…

March 7 2017 How InstallEx reduced the business burden of processing payments from its customer base

Having a pool of regular, paying customers is a huge boon in business but it’s by no means a guarantee of healthy cash flow – without question, the lifeblood of every organisation. As the general manager of InstallEx – an installation and constructions services provider with national clientele –  Jeremy Turner knows that optimal working Read More…

March 1 2017 Insolvencies set to increase in Australia in 2017

Australian businesses are set to experience an increase in insolvencies this year as a result of another difficult economic year, according to the recently-published Atradius Economic Outlook. The likely 2% increase in insolvencies puts Australia in step with the UK and Canada.  The improving trend in the business environment across Australia and other advanced economies is Read More…