Tag: Payment Defaults

Here are Australia’s slowest-paying industries with some businesses waiting more than 60 days to be paid.

In a perfect world, suppliers would prefer to be paid cash up front. However, in reality, the world works on credit. Trade credit is inevitable and so is the debt that comes with it. For most businesses, trade credit is essential for growth as businesses don’t have to pay suppliers on the spot but rather with […]

The results of the Credit and Debt Survey are in. Run by Dynamic Business in tandem with CreditorWatch, the survey found two thirds of businesses have seen a rise in the time it takes them to be paid over the last year.

Australia’s small businesses are being placed under increasing pressure as a result of deteriorating global economic conditions and a continued lack of funding. But there are things you can do to help yourself.

The divide between Australia’s three mining states and the rest of the country appears to be growing, as the Northern Territory, Western Australia and Queensland lead the way in growth of business credit enquiries in the first quarter of 2012.

After focusing on getting yourself up and running, looking at sales and working on the front end, it’s likely your administration and accounting practices have been left somewhat forgotten. With more customers defaulting on payments, now more than ever is the time to get your business’ accounting practices into shape.

Business defaults hit their second highest rate in September for eight years, leading experts to warn SMEs to be on top of their accounts receivable as Christmas approaches and cashflow worsens.

Figures recently released by National Credit Insurance (Brokers) showed that the number of bad debt claims in February 2011 is almost 80% higher than claims for the previous month. The spike has caused cash flow finance specialist Oxford Funding to warn businesses to keep an eye on their debtors.

In the age of mass customisation, intense competition and globalisation, trade receivables management is increasingly complex. Today’s unstable economic environment means you’ve got a lot to worry about in terms of credit risk. So here’s how you can address and remove credit risk. The world of credit risk has many facets and events unfolding around […]