It has been reported that small and medium enterprises are among the top drivers of Australia’s economy, contributing around 57 percent of the country’s GDP and employing roughly 7 million people. However, these impressive numbers only speak of the SMEs that are lucky enough to survive past the first few years operation. According to a
Debt collection can be one of the most challenging parts of running a business. This is not only because it’s a complex and often time-consuming process, but also because it can have a huge impact on your company’s overall financial health. So, it’s important to make sure your debts are recoverable before you begin the
The very idea of owing money, especially large amounts, makes many people feel anxious and even frightened. But an experienced entrepreneur understands that debt is a natural part of conducting business. Every company out there today will have some form of financial obligation. Many businesses even deal with multiple debts at a given period of
At first glance, a Terms and Conditions document does not seem all that impressive. It does not evoke the same level of attention and respect from clients that a contract or an invoice usually does. Many people skip over the T&Cs section of an agreement without ever reading it. Because of this business owners tend
A steady, positive cash flow is crucial to the success of any business, especially one that’s still small and starting out. But to maintain this, you need to make sure you always get paid for the products and services you provide. This is where debt collection comes in. Small business owners might balk at the
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