Tag: Invoice Financing

Leading financing company OptiPay has seen a 25% increase in its utilisation rate for invoice financing, showing Australian SMEs are in dire need of cash.

SMEs are given a valuable new source of finance as they recover from the pandemic.

Debtor finance has been rated as one of the top three products to watch in 2011 and statistics are reinforcing its growing popularity among Australian SMEs as a cashflow saviour.

Small to medium sized businesses (SMEs) are urged to strengthen their cash flow position now to lessen the risk of liquidity or financial distress, especially after the Australian Tax Office (ATO) is taking a tougher approach to collect outstanding tax debt.

In new figures released by the National Credit Insurance Brokers (NCI) claims received by bad debts in June 2010 were 44 percent higher than the 2004 – 2009 average over the same period.

The outlook for Australia’s economy might be improving, but there appears to be no end in sight to the cash flow pressures hitting most SMEs, with a higher than average number of debtors defaulting on what they owe due to insolvency, said cash flow finance specialist, Oxford Funding.

Global cash flow finance specialist, Bibby Financial Services, expects demand for invoice financing to continue to grow by around 20 per cent this year as small businesses seek better ways to manage their cash flow and more flexible business finance arrangements. Greg Charlwood, Asia-Pacific chief executive of Bibby, reports the company’s Australian business grew by […]