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Finance
  • September 27 2019 National cash-flow crisis for small businesses

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell says fresh data reveals the extent of the cash flow crisis for small and medium-sized businesses in Australia. The latest SME Growth Index has found one in five SMEs are experiencing cash flow problems due to business loans being rejected. According to the data, the Read More…

  • September 24 2019 SME funding: Non-banks overtake banks for the first time

    For the first time Australian SMEs are more likely to use a non-bank ahead of their main bank to fund their 2019 growth plans, according to a national survey of more than 1000 businesses. The September 2019 SME Growth Index, to be launched this week, is conducted by banking analysts East & Partners, on behalf Read More…

  • September 19 2019 Average late payments to Aussie small businesses drop nationally

    Xero, the global small business platform, reports that late payments to Australian small businesses have seen an improvement. An analysis of hundreds of thousands of anonymised invoices by Xero Small Business Insights reveals a nearly 2.5-day decline in late-payment times in July across Australia. This is the biggest June-to-July drop in three years.  Businesses waited Read More…

  • September 16 2019 Have your say on the Business Funding Guide

    The Australian Small Business and Family Enterprise Ombudsman, Kate Carnell is seeking feedback on the Business Funding Guide. The guide, released in July by ASBFEO in partnership with Scottish Pacific Business Finance, is an industry-first publication primarily written for accountants, bookkeepers, brokers and other financial advisers, to help their small business clients find the right Read More…

  • September 10 2019 Small employers: It’s time to move to Single Touch Payroll

    Small employers (those with 19 or less employees) need to get ready for Single Touch Payroll (STP) ahead of the 30 September start date. STP became mandatory for small employers from 1 July this year, however, the ATO granted an extension to businesses that needed more time to get ready until 30 September. Recent insights Read More…

  • September 3 2019 How to spot if your business is in trouble

    Cash flow is the lifeblood of any business. A decent cash flow allows a business owner to pay staff and suppliers, meet their tax office obligations on time and deal with operational expenses – as well as making money for the shareholders and providing the funds needed to grow. Despite this, it’s frightening how many Read More…

  • August 28 2019 Understanding your small business loan options

    You can have the best business idea in the world but if you don’t understand the loan options available to you, you could sabotage your chances of success. There are all kinds of people running all sorts of businesses; not all of them have a background in the finance industry. So, when you find yourself Read More…

  • August 22 2019 What are the 6 most common employee payment errors made by major companies?

    When we think of major companies, we often assume that they have a large team of highly trained payroll professionals working to ensure that staff are getting paid properly – however this is not the reality for many organisations. In the last few months, we’ve seen two major food retailers come under fire for underpaying Read More…

  • August 22 2019 Assessing your cash flow the right way

    To be successful, every aspect of a business plan needs to be nimble. It is crucial to regroup as you progress along your path, assess, reassess and adapt. If you try a new digital strategy, for example, you would research, plan, roll it out, then check in to see how it’s performing. If it’s not Read More…

  • August 20 2019 What are the dos and don’ts of applying for finance through a broker?

    Let’s talk about finance. For a growing business, or a business going through a dip or slow period, it’s one of the most important subjects there is – and also one of the most daunting. If you get it wrong there could be dire consequences, and it’s not always easy to get. The most common Read More…

  • August 14 2019 1 in 3 organisations make employee payment mistakes regularly

    New data from an industry association has revealed that 1 in 3 Australian organisations admit to making employee payment mistakes every pay run, and the CEO and CFO never know about it. Across 45 per cent of organisations, it’s the employees who alert managers to the errors. The Australian Payroll Association (Australian Payroll Association) – Read More…

  • August 8 2019 SME cash flow risk can be avoided with proactive credit monitoring – here’s how

    It won’t come as a surprise to hear that inadequate cash flow is one of the main reasons why many small businesses in Australia fail, so for small businesses looking to get ahead, minimising the risk of bad debt should always be front of mind. With over 97 per cent of the 2.2 million actively Read More…

  • August 7 2019 What can and can’t be put through as “other” expenses

    By: Mark Chapman, H&R Block, Director of Tax Communications Each year, Australian taxpayers claim billions of dollars in deductions in their tax returns. Some of them, such as claims for using your car for work or the costs of work-related clothing, are quite easy to categorise and have their own box on the tax return. Read More…

  • August 1 2019 The essential guide to obtaining small business funding

    A Business Funding Guide that aims to tackle the funding crisis faced by Australian small businesses has been developed and launched by Kate Carnell, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) in partnership with Scottish Pacific Business Finance. The guide is primarily written for accountants, bookkeepers, brokers and other financial advisers, to help their small business Read More…

  • July 30 2019 The hospitality problem: Why staff are being underpaid and how STP is set to stop it

    By: Angus Capel, Small Business Advocate, Xero George Calombaris is the latest in a long list of hospitality bosses to be caught underpaying their workers. This time, by millions of dollars. And while public response has been swift in condemning the now-former Masterchef star, this behaviour is nothing new within the industry. Indeed, it follows Read More…