How to successfully manage your debt recovery

How to successfully manage your debt recovery

Businesses can be heavily impacted by customers who cannot, or simply will not pay when payment is due. A single unpaid invoice can cause issues, and the longer this debt is left uncollected, your chances of getting your money back become slim. Consider these tips to avoid and manage debt recovery to save your business…

Funding your business the right way

Funding your business the right way

Turning an idea into a business requires money, and securing this stable funding is not easy. Businesses have a variety of innovative funding options today, but before you pick one, you may want to consider how well some of these methods fit your business model and if you can really benefit from them. Peer-to-peer lendingThis…

Different types of cashless payment methods to be aware of

Different types of cashless payment methods to be aware of

In an effort to minimise physical contact during the global pandemic, most businesses are making the switch to cashless payments. While contactless credit cards and mobile wallet applications remain the most common type of cashless payments, many other methods have emerged in recent times. In the event that your business is also looking to make…

Avoiding bad debts from your clients

Avoiding bad debts from your clients

Running a business is challenging enough, and having to deal with bad debts can add an unneeded layer of stress for you and your team. The easiest way to handle bad debts is to avoid them in the first place – here’s how. Do a background check:Before you enter into an agreement with a client…

Cash flow forecasting for your business

Cash flow forecasting for your business

Small business owners are often faced with stressful financial decisions and periods of uncertainty. Having a cash flow forecast can help your business avoid cash shortages by allowing you to track whether your spending is on target, prepare for business expansion, plan for upcoming cash gaps and plan budgets. Here are some tips on cash…

Tips for managing money on a low income

Tips for managing money on a low income

Increasing living expenses and commitments can make it challenging to manage and save money, especially for low income earners. Here are some tips that may help you reduce financial pressures on a low income… Prioritise high-interest debts:If you have a lot of different debts to pay off, prioritise them by their interest rates. Paying off…

Ways you can save money during the COVID pandemic

Ways you can save money during the COVID-19 pandemic

The COVID-19 pandemic is proving to be not only a major health concern for the global population, but also a huge financial concern for businesses and individuals alike. In a time of economic uncertainty and risks of unemployment, here are a few ways you can save money during the coronavirus crisis. Consider changing your savings…

Government funding eligibility with BAS lodgements

Government funding eligibility with BAS lodgements

As part of the second $66 billion support package in response to COVID-19 and its negative effects on the Australian economy, the Federal Government has expanded tax-free cash payments to small and medium businesses with a minimum payment of $20,000 and maximum of $100,000, up from the previous $2000 to $25,000 range. However, it is…

How to manage your money through your bank

How to manage your money through your bank

Gone are the days of your visits to the bank to check on your credit balances. With banks consistently improving their client services and moving to easily accessible platforms such as the web and apps, there are more and more opportunities for you to self-organise your money with the services your bank provides. Here are…