Cashflow
If cash is king, here’s one way to get yours flowing…
For small businesses, there’s no question about it – cash flow is king. Unfortunately, thanks to the GFC, keeping cash flowing and preserving a line of credit is proving a challenge for many Australian businesses. According to a recent Dun & Bradstreet report, the average time it takes to get an invoice paid in Australia has risen to 53.4 days. Furthermore, many small businesses are finding it difficult to acquire the capital they need from traditional lending institutions, especially the big banks. Here’s one way to get yours flowing.
If your business is in trouble, raise a hand before it’s too late
Five fingers and a raised hand could be all that’s required to add an extra $2 billion to the Australian economy each year. That’s the money that would be saved if even only half of Australian businesses that find themselves in financial strife put their hands up for help earlier.
How to always get paid: Belgium company invents ‘crying’ invoice and becomes ‘remarkable’
Frustration with tardy debtors was the obvious impetus behind this nifty invention from Belgium outfit ikki; an invoice with a voice-chip that begins to make weeping noises 20 seconds after the envelope is opened. But what’s truly inventive about the ‘crying invoice’ is its other purpose.
Love your business? You could win $20,000
MYOB, an Australian business that specialises in management solutions for SMEs, will award a $20,000 grant to the business owner who gives the best answer to two questions: “What are you most passionate about?” and “How would you spend $20K on your business?”
A chance to invest in the next Kylie Minogue
Now here’s an idea that raises the phrase ‘investment opportunity’ by a couple octaves — purchase a stake in the career of an indie music artist. In exchange for your largess, you’ll gain a say in marketing and producing the singer. You can even pitch them a song.
What is GDP and what is contributing to its growth in Australia? [PODCAST]
RMIT economist Alberto Posso talks about Australia’s GDP rising 0.5%, raising questions about the Government spending crowding out private sector investment. He also looks at the drop in mining investment and asks whether manufacturing and agriculture can level the balance.
Australian business investment returning back to 2008 levels [PODCAST]
RMIT economist Steve Kates talks about business investment, which is headed back to 2008 levels. He also looks at construction activity which appears to be flat with reduced investment in residential housing. This will exacerbate the housing shortage. He predicts high debt levels will drive inflation around the world as governments are forced to print more money to stay afloat.
It’s all Greek to me: How world events affect Australian small business budgets
With recent focus on world events, many small- and medium-sized businesses in Australia are left wondering what these distant, foreign events mean to their business operations at home.
Take control of your cashflow to avoid growing broke
Focusing on growing the business and maximising profitability should always be top priorities for small businesses. However, concentrating on these areas alone can mean neglecting crucial cashflow practices that can lead to the demise of your business. Sue Hirst explains.
Do you make these five critical mistakes in business?
Here are five critical mistakes that will kill your chances of attaining above-average success. If you make any of them, your business will achieve average performance at best, and likely create a trap where you end up working long hours for mere survival, or even eventual failure and bankruptcy. Read on and check to see how many you make.
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