Blog
Unpaid Tax Debts May Impact on Your Ability to Get a Small Business Loan
Did you know that Australian Taxation Office (ATO) can report your unpaid business tax debts to credit reporting agencies?This could have negative implications on your business credit score and the ability to get a small business loan.If you are experiencing...
Encouraging signs for Australian Small Businesses in 2022
For many small businesses the start of the year was extremely challenging to say the least.However, recent research indicates that there is optimism in the air.Over 30% of small business owners believe that economic climate will get better in the next three months...
Small Business Confidence is Growing!
According to the latest business marketing research, small businesses in Australia are now more confident that business spending will recover faster than expected. Latest research finding show: • Business optimism has increased by 10% since August this year; • More...
Company Directors are now personally liable for unpaid GST
Under a new legislation passed on 5 February 2020, company directors will have personal responsibility to ensure timely payment of the GST arrears. If the GST is not paid, the ATO has the power to issue Director Penalty Notices (DPNs) to make them personally liable....
New Banking Code to Benefit Small Businesses
Recently Australian banks adopted a new Banking Code of Practice. The new Code now includes provisions that will help small businesses in a number of ways: Loans under $3 million will have fewer and fairer conditions. Longer notice periods will be required when loan...
Current insolvency and voluntary administration practices are failing small businesses
An inquiry into insolvency practices was recently announced by Kate Carnell, Australian Small Business and Family Enterprise Ombudsman. The concern is that current insolvency and voluntary administration processes are frequently ineffective for small businesses....
Late invoice payments cause significant stress to small businesses
A recent survey of over 300 Australian SME's shows that 40% of small business owners had to rely on personal funds to address cash-flow issues caused by late invoice payments. Specifically, a large proportion of small business owners believe that large businesses are...
Introducing Invox Finance
“An Invoice lending platform connecting sellers, buyers and investors on the blockchain.” Who is Invox Finance? Invox Finance Pty Ltd was founded by members of the ABR Finance Pty Ltd team. The Invox Finance Platform is a decentralised peer-to-peer invoice lending...
How to set up trading terms and conditions for your business
1. Introduction This is a third article in a series of articles on invoice payment and debt collection issues. In our first article we discussed why it is important to clearly identify every new customer and provided tips on essential elements of a good credit...
How to effectively collect payments and debts from your customers
1. Introduction This is a third article in a series of articles on invoice payment and debt collection issues. In our first article we discussed why it is important to clearly identify every new customer and provided tips on essential elements of a good credit...