The Australian government is beginning their crack down on late payments and it seems at the top of their list are the biggest players of the building industry. In an interview with the Australian Financial Review, Australian small business ombudsman Kate Carnell urged contractors to pay on time; otherwise, they will
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In an article published in The Australian earlier this month, business analyst Robert Gottliebsen suggested that the best way to jumpstart the economy is to urge big companies to pay SME invoices on time. Mr. Gottliebsen pointed out that this is the perfect strategy for the government as it won’t cost the
A recent study published by accounting software company Xero revealed that SMEs lose up to $7 billion every year because larger companies fail to pay their invoices on time. This puts the value of outstanding invoices to a whopping $115 billion per year. These findings are based on Xero’s review
After several unsuccessful attempts at communicating with clients, you’ve finally decided it’s time to outsource your company’s debt recovery tasks. You give out a sigh of relief because someone else will be in-charge of this time-consuming and stressful process. Before you hand over the unpaid invoices, though, there are some
The end of the financial year can be an extremely hectic time for small business owners as they try to balance their usual workload with bookkeeping, tax paperwork, and other EOFY tasks. If you’re not careful, you might end up burnt out in front of your computer, surrounded by mounds