Finance

On this page you’ll find finance articles that cover several subtopics within the broader category of finance – that of course relate specifically to small business and startups.

The content here provides info, news and advice on small business finance, raising capital, small business funding, help with cashflow problems, payroll and tax, payment terms and much more. All of this is designed to primarily assist small business owners with their finances and stay on top of financial news and financial trends.

As well as this, we hope to give employees, likely to be within finance as a finance manager or as a finance officer, within small businesses the help they need in making decisions surrounding maintaining healthy cash flow, avoiding debt, monitoring risk and the most important – gaining access to finance.

We explore the common problems and themes around small business finance and what the Australian government and Australian banks are doing to assist with small business growth financially. As we are a small business community, we are in touch with many entrepreneurs, startup founders and small business owners, and subsequently know the financial issues that are a main concern and priority for them. We want to share solutions to those issues for our readers.

With so many entrepreneur stories on Dynamic Business, where small business owners share their business success, you may sometimes question how and why they got the resources and finances to start their entrepreneurial journey.

Of course, we do quiz our entrepreneurs on this sometimes, and we are happy to share their first-hand advice on how to raise capital and the different business funding options available.

However, we also have dedicated articles here from finance experts that give great startup and small business financial advice, including changes to do with banking, payroll and tax (for example Single Touch Payroll.)

Dynamic Business aims to be a source of community and education for small businesses, and this is no different when it comes to finance specifically. We don’t claim to be finance experts ourselves, but we make sure that we reach out to the right business leaders to keep us and you informed on the latest financial news relevant to making your business a success.

The finance articles define terminology and do not contain jargon so business beginners with no financial background can access the information, however we also balance more higher-level financial news and specific discussion points (such as director loans, credit reporting etc.) for people in financial roles that may need a guide or opinion from a financial professional.

We also cover the news of cash rate changes, what the big four banks are up to, neobank trends, updates in loans, accounting and tax changes, payroll changes and much more that may have a direct or indirect impact on the running of your business and making financial decisions.

We know that small business finance matters, and that’s why we have dedicated an entire page to finance articles that aim to inform the small business community on their financial options, finance news and hopefully provide some insight and advice on dealing with the financial hardship that is so common to small business.

The finance topics covered here are definitely extensive; if you think of anything to do with the money, profit and revenue of your business, this is the page to visit. You can use the search function at any time to hone in on the finance subjects you’d like to learn more about. If not, simply scroll through our huge selection of the best finance articles for Australian small businesses.

Finance
  • December 17 2019 New neobank, Volt, onboards their 40,000 pre-launch waiting list

    Neobank, Volt, has a waitlist of 40,000 people ahead of its launch in early 2020, following its recent announcement of a ‘no catches’ ongoing base interest rate of 2.15 per cent on savings. Neobanks are digital banks that rely on smartphone banking apps or websites for the processing of payments, rather than through the use Read More…

  • December 6 2019 Five smart ways to keep your corporate travel budget down

    According to Roy Morgan, there are currently 2.1 million business travellers in Australia alone. For a country that is home to one of the world’s busiest flight routes (Melbourne – Sydney), this won’t come as a surprise to many, but as corporate travel continues to grow domestically, the bottom line impact on business expenses is being Read More…

  • December 5 2019 Payroll expert reveals the 7 red flags for payroll fraud

    Although it’s near impossible to accurately quantify, payroll fraud – defined as the theft of cash from a business via the payroll processing system – is less rare than many of us might think. This is because incidents of payroll fraud are often not reported in the media and are managed instead by internal HR Read More…

  • December 2 2019 Report: 4 in 5 organisations are using 20 year old payroll tech

    New data has revealed that 83 per cent of organisations are using payroll technology developed 20 years ago or more. The findings come at a time when a wage underpayment epidemic is sweeping across some of Australia’s biggest companies… The data comes from the 2019 Payroll Benchmarking Report, an annual study by the Australian Payroll Read More…

  • November 28 2019 Don’t accept late payments, just because you’re a small business

    Any small business owner will know the struggle of time – being short on time, and not getting paid on time. It’s often easy to forget the importance of back office functions, particularly invoicing and debt collection processes. Luckily, if you take the time to streamline these processes, the amount of time wasted chasing late Read More…

  • November 25 2019 Why the payments industry needs to champion workforce diversity

    It’s an undeniable fact that the financial services industry is currently undergoing massive changes. While a stable global payment ecosystem is more critical than ever, the advent of neobanks and open banking are challenging industry norms and ushering in a new era of disruption. For decades, the incumbent financial institutions and payment solution providers dominated Read More…

  • November 22 2019 The underrated benefits of the new e-invoicing hype

    Recently we covered the news that federal government departments will start paying e-invoices to businesses within five days. This applies only to contracts valued up to $1 million. If departments do not adhere to this new rule, they will face interest charges on any late payments – as long as both the supplier and agency use Read More…

  • November 13 2019 Use director loans with caution, urges insolvency specialist

    Jirsch Sutherland, national insolvency and business recovery firm, has warned company owners and directors to understand the risk of using debit loan accounts. This comes after noticing an increase in bankruptcies as a direct result of director loans.  “Used wisely, director loans can be useful,” said Stewart Free, Jirsch Sutherland Partner. “However, there are some circumstances where Read More…

  • November 5 2019 Seven Aussie businesses among the world’s leading fintechs

    Seven Australian fintechs have been included in KPMG’s and H2 Ventures’s annual list of the world’s leading fintechs, selected alongside the world’s leading players, announced today by Fintech Innovators.  Cross-border payment provider Airwallex is the highest ranked Australian firm at #32 on the Top 50 Established firms, having risen from #49 in 2018. It’s followed Read More…

  • November 5 2019 RBA expected to hold, but for how long?

    With predictions of a November rate cut having all-but evaporated, the question now seems to be when the Reserve Bank might resume its cash rate reductions. The Reserve Bank is widely expected by economists to leave the cash rate unchanged at Tuesday’s monthly board meeting but yet more gloomy economic data has reinforced an impression Read More…

  • October 31 2019 The solution to small business late payments (Part 2)

    In Part 1 of Small Business Late Payment Solutions, we talked about how late payments are costing small businesses and that everyone – big business, small business, bookkeepers, accountants, advisors and small business advocates – all need to do their part to fix this issue. The discussion touched on the importance of technology and credit Read More…

  • October 21 2019 Businesses still need to negotiate loan terms if they want to benefit from favourable borrowing conditions

    A revitalised property market and record-low interest rates mean businesses should be able to find affordable financing, but only if they negotiate effectively with lenders, a Melbourne lawyer has said. Rigby Cooke Special Counsel Daryl Lim said since most loan agreements are generally heavily one-sided in favour of a lender, it is extremely important when Read More…

  • October 10 2019 The solution to small business late payments (Part 1)

    Noel Tiufino (Managing Partner) and Raj Saini (Partner) from MyAccounts and Angus Capel (Small Business Advocate) from Xero, recently spoke to Creditorwatch about late payments and what small businesses can do about them. In the Dynamic Business interview with Trent Innes at Xerocon (September 2019), we revealed just how much small businesses are affected by late Read More…

  • October 8 2019 “Non-property owners appear to be at a distinct disadvantage in small business”: Research from ebroker

    ebroker.com.au, the fintech matching platform that works with over 70 non-bank lenders, has released a series of statistics revealing insights into Australian small business lending habits. The insights are taken from a sample of just over 10,000 unique businesses using ebroker.com.au over the last 12 months, through to the end of June 2019. Urgent loans Read More…

  • October 4 2019 Lessons from the Thomas Cook collapse: how to tell if a company is in trouble

    Thomas Cook, one of the world’s largest and oldest travel companies, recently went out of business due, at least in part, to unserviceable debt levels. (1) While carrying debt is a standard business practice and a legitimate cash flow management technique, businesses should keep a close eye on how much debt is too much, and Read More…