Cashflow
  • February 23 2017 Credit card fee changes could devalue reward schemes used by SMEs, warns American Express

    New card payment regulations, which commence mid-year, could impact how SMEs conduct business but a majority have a limited understanding of the changes, American Express has warned. Card payment regulations announced by the Reserve Bank of Australia last year are due to come into force from July and will cap the fee that Visa, MasterCard and bank-issued American Express Read More…

  • February 17 2017 Overcoming the cashflow barrier to export

    The Australian export market is buoyant, having grown by 4.2% in 2016, according to the latest figures from the Australian Bureau of Statistics. This is an excellent example of the hard work and innovation that is making Australian small businesses a global success. Yet small businesses still face a number of challenges before they grow successful Read More…

  • February 15 2017 SME survival rate remains in negative territory

    The survival rate of unincorporated entities has declined since the third quarter of 2015, with the steepest drops experienced during the final three months of the past two calendar years.  These findings are outlined in the latest Small Business Risk Review, conducted by CreditorWatch. The credit reporting bureau reviewed registered payment defaults and trade payment Read More…

  • February 8 2017 Call for government to consider UK regs to help ensure big businesses pay SMEs on time

    The Coalition has been urged to follow the example set by the UK Government and introduce legislation to deter big business from making late payments to SME suppliers. From April 2017, large companies and limited Liability Partnerships (LLPs) in Britain will be required by law to publicly report twice a year on their payment practices Read More…

  • February 7 2017 Five ways to support your growing micro-business

    Commonly defined as enterprises employing nine or fewer people, “micro-businesses” are big players on the business stage. In 2013, they accounted for 14% of all businesses newly opened in Australia, but only 9% of businesses shutting down[1]. Any new business will face its share of growing pains. When you’re trying to grow your business without Read More…

  • February 6 2017 Could your business use a financial detox? 

    Regardless of the successes your business achieved in 2016, a ‘financial detox’ is an invaluable opportunity to take things to the next level this year. Like a  personal detox, a business cleanse is focused on boosting energy levels and performance. Specifically, it’s all about understanding your financial vulnerabilities and cash flow pressures and creating a foundation to fund Read More…

  • January 24 2017 A permanent $20,000 instant asset tax write-off for businesses tops SME wishlist, MYOB finds

    Seven in ten small businesses want the $20,000 instant asset tax write-off to continue past 30 June, this year, when it is due to expire, according to accounting software provider MYOB. The latest MYOB Business monitor, a bi-annual survey of more than 1,000 small businesses, asked operators what policies they would and wouldn’t vote. MYOB Read More…

  • January 9 2017 How to improve your cashflow within 60 days

    Cashflow is the lifeblood of any business and more SMBs have been destroyed through cashflow issues than from any other cause. The last thing you need is to be stressing about whether you have enough cash to pay your own suppliers when you should be running your business.  So, you’re not ready to hire an Read More…

  • January 9 2017 Back office support: closing your cash flow gap with freight factoring

    Many trucking companies choose to use freight factoring services. But what does this service involve, and why is it so popular? Here’s a guide to what freight factoring is and how it can help you so you can make an informed decision about whether to use it for your own company. What Is Freight Factoring? Read More…

  • December 21 2016 What tops the SME wish-list at Christmas?

    As an advocate for small businesses in Australia and New Zealand, MYOB regularly asks SME owners what they are thinking and feeling about the economic landscape, government policies and generally what they want for the year ahead. Small businesses are the backbone of the economy so their mindset and well-being has a huge impact on the Read More…

  • December 19 2016 SMEs paying invoices issued by other SMEs two weeks after settling debts with corporates

    SMEs are far more punctual in paying invoices issued by corporates than those issues by other SMEs, a leading commercial credit reporting bureau has revealed. The latest quarterly risk review of CreditorWatch – an analysis of payment data sourced from over 40,000 active customers – shows SMES take, on average, nearly two weeks longer to Read More…

  • December 16 2016 Keeping end of year expenses under control

    During the ‘silly season’ it can be easy for expenses to get out of control. Employees are starting to relax and may feel comfortable claiming team lunches or other entertainment expenses back from the business. At the same time, Christmas is a time for giving; many organisations buy gifts at the end of the year Read More…

  • December 14 2016 ‘Tried and true’ cash flow methods costing businesses $6.12b in growth opportunities

    Australia’s mid-size businesses are missing out on $6.12 billion in growth opportunities annually due insufficient or variable cash flow, according to new research from American Express.   The company’s new report, Behind the balance sheet: unlocking hidden value in credit, involved a survey of 355 Chief Financial Officers from companies with annual revenue values between $2 Read More…

  • December 2 2016 One in four SME owners are juggling businesses

    Two in five SME owners either operate multiple businesses or plan to, according to new research from MYOB with Tim Reed, the cloud accounting provider’s CEO, declaring “the great Australian entrepreneurial spirit is alive and well.” Findings from MYOB’s latest SME Snapshot – a survey of 589 business owners – indicate that a quarter of Read More…

  • November 21 2016 B2B transactions in Australia’s small business ecosystem worth $204 billion, report suggests

    New research suggests transactions between small businesses in Australia are worth $204 billion per year.  Commissioned by American Express in support of Shop Small Month, which ends 30 November, The Economy of Shopping Small: Custom Counts report reveals small businesses in Australia source goods and services from 4.4 other small suppliers each month, with an average monthly spend Read More…