Cashflow management

How to Improve Cash Flow for Small Business

Cash flow is the life blood of every business. It is consistently one of the top challenges I have... read more

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Jeff GordonPrincipal at Prestige SME Business Solutions
MS Data Intelligence (Michael Silberthau) has created a brilliant customised XL spreadsheet model that will make sure you control your Cash Flow really well. The "What If" option is great. Check out www.msdataintel.com.au, use this great option and sleep better at night!
Jeff GordonPrincipal at Prestige SME Business Solutions
By converting to Xero software, as a Business Owner you can turn on your PC, Ipad or IPhone every day and the KPI Dashboard that is great and will be even better in June 2015 when it is upgraded and improved. You will see Cash Flow from every angle, money in and out every day, all bank balances, problem debtors, main creditors you owe etc. Cash Flow is KING. You must watch it every day!
Cashflow management

Why Australian SMEs Struggle with Late Payment Culture

How are you invoicing your clients? Does it always take a long time before you can collect... read more

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Cashflow management

8 Steps to Avoid Cash Flow Problems at Your Small Business

Small Business Trends Events Influencer Awards Book Awards Marketplace Resource Center...read more

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Cashflow management

How To Beat The Black Dog Of Business: Depression, Stress, & Anxiety

The symptoms of someone dealing with depression, stress, and/or anxiety include restlessness,... read more

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Cashflow management

How To Get Your Money Faster - Without The Hassle

Get Paid Sooner & Boost Your Cash flow Today’s strategy is a no-brainer, but one that can... read more

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Cashflow management

Lack of Cash Flow? – Prepare for a Heart Attack!

When I discuss cash flow issues, losses and profits with many of my clients, I usually try to put... read more

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Hitesh Mohanlal Director at WOW! Advisors & Business Accountants
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Cashflow management

Cash Flow: The Oxygen of Business

We’ve all seen enough movies to know how to conserve oxygen if we’re stuck in a lift. Don’t speak... read more

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Jef LippiattOwner at Startup Chucktown
Very insightful piece, thanks for sharing.
Cashflow management

Free money: how to get your hands on government grants for your agency

Oh, to be a kid again. It might be the only time in your life free money existed. Sure, you might... read more

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Cashflow management

Australia’s Long Payment Culture - the real impact on Small and medium sized business

Small and medium sized businesses employ 7 million Aussies (70% of workforce) and generate over 50%... read more

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Lachlan HandleyDirector at FIFO Capital NSW
Dun & Bradstreet compiles some really interesting analysis around speed of invoice payments (D&B Australian Trade Payment Analysis - http://dnb.com.au/article-tpa-3Q16-report.html#.WCpI9Vu9Y4A). The most recent report for the three months to September 2016 shows the national average time for an invoice to be paid is 45 days. As Alistair notes, large companies are often the slowest payers and use their position to stretch payment to suppliers, often 60 pays plus!
Questions

How do you cut costs in your business?

All the costs in my business are required.I hope I don't ever try to cut costs and look more into increasing the costs of my services instead.
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Questions

Who uses debt Collection agencies? Who do you use and are they small business friendly?

Steven FreemanOwner at Evolved Sound
Have used a few but only in extreme situations when we have exercised all efforts and the situation has blown out. By then they have a hard case, so it is difficult to know whether its them or the case which is making their service questionable.
Hi Danielle, try the CollectMore app. It's free and the person who created it, Paul Metcalf, is very helpful. I'd email him for advice if the app doesn't work for you. Good luck!
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How can I generate more online sales traffic?

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Just wondering what are the requirements of paying tax to be able to claim small business expenses?

And is it worth it or is it better to run it as a hobby? I'm approaching my 1st year and also... read more

George Grimekis CPAAccountant at Alpha Omega Accounting & Business Solutions
Hi Jeanette,It seems from your wording that you are already running a business. A hobby is a spare time activity pursued for pleasure or recreation whilst a business is run with the intention of making a profit.Indicators of a business include but is not limited to:- Having an ABN/Business Name- you are keeping records- you genuinely believe you you will make a profit even if you do not do so- repeating nature of transactionsIn saying that, if what you are doing is a hobby then the $3000 you have spent is not deductible. If you are running a business and you have not made any turnover, then you will need to pass the non commercial losses tests before the losses can be deducted against your income.Any losses made that do no pass any of the tests in the non commercial losses rules will have to be rolled over until such time the tests are passed and you can claim them in future years.If you need further clarification please send me a private message or you can google "non commercial losses"and click on the A.T.O link.
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Questions

When paying my company’s bills, should I take advantage of early payment discounts or pay late?

Hitesh MohanlalDirector at WOW! Advisors & Business Accountants
Good question. Yes if you have the funds it is worth taking the discount because on an annual basis the discount can save you money. I once did a calculation for one of my clients which showed that it was worth him increasing his overdraft and take the discount. Paying late can also work but this generally affects goodwill. If you pay on time and then find you are in a tricky position, suppliers will give you a bit more time to pay. If you are constantly late it can affect your relationship. You need to do some quick calculations but i usually take advantage of early payment arrangement.
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Questions

Are you a shoebox culprit on your finances?

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Cashflow management

Is Cost Cutting Now Costing Your Business Later?

In business and in life, there are two kinds of people. A folder or a scruncher. Pasta twirler or... read more

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How important was cash flow to Vinomofo?

How important was cash flow and did it ever take a back seat when you were growing your company? read more

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Wendy Huang Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Justin DryOwner at Vinomofo
Incredibly. We started Vinomofo with $100k in the bank so we didn’t have much wiggle room. It was so important to us that we would actually update it daily. This way we knew exactly where we were going to be (based on projections) at any time over the next 3 months.We also kept the business very lean to give ourselves the longest runway possible. Obviously the numbers are bigger now but we still manage cash flow and stock levels very closely.
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Cashflow management

Dealing With an Unexpected Financial Blow to Your Business

Remember that unexpected repair or a client didn't pay you on time?Or you lost that big account...read more

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Cashflow management

Why cash is more important than profit

Why cash is more important than profit? What does it take to make a success of your small... read more

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Cashflow management

Osteopathy and improving your business

I have had some problems with my neck and the impact was that I was very stiff and sore. I had... read more

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