Tag: Credit

Insolvencies and late payments climb, while more SMBs and Sole Traders experience mortgage stress.

Having greater insight into the financial status of your customers will help your organisation minimise bad debts in FY2024.

Data analysis had revealed that areas with higher levels of overdue credit card accounts before the pandemic tended to respond better to the support measures that were implemented during the pandemic.

Turns out around 73 per cent of Australians – or 14.6 million people – aren’t aware of their credit score and what it entails.

In an Australian fin-tech first, a Melbourne based company has developed an app that allows users to negotiate their debt with creditors from a single platform. The app, called Lever, streamlines the negotiation process, giving users greater control of their credit.   Debt negotiations  According to ABS data, Australians’ financial stress has increased over the past […]

Here are some timely do’s and don’ts for protecting your business from debt build-up.

As a small business owner, you could be wondering if during the chaotic times of COVID-19, is it still possible to sue a customer for an unpaid account/debt?  In the first instance, you should try as hard as you can to recover funds you’re owed through processes such as payment plans if a customer simply […]

Have you ever struggled with cash flow as a result of late payments to your small business? We know this is an ongoing issue for small business owners, and so in today’s podcast that’s really what we are focussed on. We are going through the top tips to achieve a healthy cash flow and healthy […]

Prushka Fast Debt Recovery has revealed, through data sourced from court records, that 953 businesses issued Notices of Winding Up Application during the Oct-Dec quarter. This figure increased 5 per cent compared to the July quarter, and by 6 per cent year-on-year. The Australian Taxation Office continues to be the largest petitioner, with ATO and other […]

It’s no secret that inadequate cash flow is one of the main reasons why businesses fail in Australia. Dynamic Business only recently talked about this issue last week, with new research commissioned by H&R Block found that the biggest struggles for small businesses across Australia are: ‘cashflow’ (35%) ‘marketing effectiveness’ (30%) ‘lack of support’ (19%) […]