Category Archives

Category Name: Business Finance

Why business conditions are challenging right now

Inflation is heading in the wrong direction, with a tight labour market putting upward pressure on wages and spending.   Prices rose at an annualised rate of 3.4% in December, January and February, before rising to 3.5% in March and 3.6% in April, according to the Australian Bureau of Statistics (see graph).   Unemployment remained […]

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B2B payment defaults jump 69.4%

Small businesses in the hospitality sector face the greatest risk of insolvency over the next 12 months, based on the latest Business Risk Index from CreditorWatch.   CreditorWatch calculated that 7.5% of SMEs in the food & beverage services sector might fail in the next year.   The other sectors with the greatest failure risk […]

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Five ways to improve your company’s credit score

The higher your company’s credit score, the easier you’ll find it to qualify for finance and attract lower interest rates.   To improve your credit score, commercial credit reporting bureau CreditorWatch recommends: Learn how the system works. Credit scores are calculated based on a company’s financial stability, payment history and reputation, according to CreditorWatch. Order […]

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How to remain Tax-Compliant

The Australian Taxation Office (ATO) has reminded businesses of the importance of meeting their employer obligations, to avoid penalties and interest.   ATO tips included: PAYG withholding. Pay close attention to tax tables, as different workers may have different withholding rates. Single touch payroll (STP). Report payroll information through STP-enabled software each time you pay […]

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Businesses feeling the impact as consumers stop consuming

Households significantly cut back on their spending during the 2023 calendar year, Australian Bureau of Statistics data has confirmed.   Inflation increased 4.1% during 2023, but household spending increased only 2.3% during the same period, which means the average household made fewer purchases.   Household spending varied markedly from state to state, rising faster than […]

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Inflation falls for the forth consecutive quarter

The Reserve Bank is nowhere near declaring victory in the war on inflation, but the data suggests we’re closer to the end than the beginning.   Inflation fell to 4.1% in the December 2023 quarter, compared to 7.8% the previous year, according to the Australian Bureau of Statistics.   The Reserve Bank has forecast inflation […]

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What do you need to know before you Invest in a Business?

Experienced co-founders, often having been through the business journey before, tend to be discerning when considering involvement in a new venture. Before agreeing to the first meeting, they typically look for several key factors to assess the potential opportunity and alignment with their goals. Here are some aspects that experienced co-founders may consider: Clear and […]

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