How SMEs can avoid the cash-flow crunch

Credit: Austin Distel

Finance leaders from mid-sized businesses (100 to 999 employees) are known for keeping a watchful eye on nuanced signals and indicators of potential risk. And yet recent results from a survey conducted by Oxford Economics and SAP of small and mid-sized businesses found that roughly half of finance executives from mid-sized businesses cite risk management… Continue reading How SMEs can avoid the cash-flow crunch

Settling into FY21 – here are some tactics to boost cash flow

With the new financial year craziness wearing off and we settle into our new normal, now is a good time to rethink your strategies. For this year in particular, it is essential that you do this. It is essential that small businesses are on the ball in thinking creatively. Here are some simple tips to… Continue reading Settling into FY21 – here are some tactics to boost cash flow

Shorter payment times incoming with the Payment Times Reporting Bill

Xero MD (Aus) Trent Innes and the Small Business Ombudsman Kate Carnell both welcome the bill

The Payment Times Reporting Bill aims to address late payments and the consequential struggle with cash flow, which is an ongoing problem for Australia’s 3.4 million small businesses, with the negative impacts spreading widely across the broader economy with juggling suppliers. Paying small businesses late creates a back log effect. The Government has been prompted… Continue reading Shorter payment times incoming with the Payment Times Reporting Bill

Business woman Jen McCloy on her newest COVID-19 cash flow initiative Vouch For You

Jen Hollingsworth, entrepreneur and founder of Vouch For You

Vouch For You is an online voucher marketplace, connecting businesses of all types with customers by offering prepaid discounted vouchers for goods and services. Created by Jen and Ewen McCloy, husband and wife duo, in a time where businesses need cash flow solutions more than ever. The platform, launched this week, is not a charity… Continue reading Business woman Jen McCloy on her newest COVID-19 cash flow initiative Vouch For You

Why JobKeeper creates cash flow issues for businesses

The announcement of the government’s $130 billion JobKeeper Payment scheme was greeted with a sigh of relief for many businesses who are struggling with paying staff wages as part of the financial challenges caused by coronavirus (COVID-19). The scheme supports businesses significantly affected by the coronavirus to help keep more Australians in jobs and is… Continue reading Why JobKeeper creates cash flow issues for businesses

Cash flow struggles were crippling SMEs before coronavirus

Prior to the coronavirus crisis and subsequent shutdowns, Australian SMEs were already struggling with cash flow; this is according to new research which shows 52 per cent of business owners had issues with paying themselves.  Why were employers so quick to let their staff go when coronavirus came? When the government announced the shutdowns, many… Continue reading Cash flow struggles were crippling SMEs before coronavirus

Big businesses shouldn’t use COVID-19 as “excuse” not to pay

Kate Carnell, Small Business Ombudsman

Small businesses are pleading to be paid on time, with Ombudsman Kate Carnell urging big businesses not to use the COVID-19 economic downturn as an excuse not to pay up. The reports of big businesses using COVID-19 as an excuse to delay payments to their small business suppliers is disappointing. “Now is the time for… Continue reading Big businesses shouldn’t use COVID-19 as “excuse” not to pay

Hospitality industry calls for Uber Eats to cut commissions

There is no question that the hospitality industry has been left in disarray as a result of the current COVID-19 pandemic. One major factor that could balance the scales is a change in the 35% commission rate that UberEats, Deliveroo and Menulog are currently charging. One entrepreneur is paving the way for change, urging these… Continue reading Hospitality industry calls for Uber Eats to cut commissions